Godrej Properties QIP raises Rs 3,750 cr
Real Estate

Godrej Properties QIP raises Rs 3,750 cr

The real estate arm of the Godrej Group, Godrej Properties, has raised Rs 3,750 crore through a Qualified Institutional Placement (QIP) of 2.59 crore equity shares to global investors including the Government of Singapore, Goldman Sachs Funds and Invesco Oppenheimer Developing Markets Fund.

The company will use the money to buy land and expand its business. Government of Singapore Investment Corporation (GIC) invested $110 million and Invesco Developing Markets Fund and other funds managed by Invesco Advisers Inc put in $150 million.

The QIP, which was launched on March 9 and closed on March 15, was set at Rs 1,450 per share. It saw a strong mix of investors, with nearly 90% of the book going to long-only investors.

Universities Superannuation Scheme, Monetary Authority of Singapore, and Baron Emerging Markets Fund are also among the investors that have been allotted more than 5% equity shares offered in the issue.

Invesco Oppenheimer Developing Markets Fund and the Government of Singapore have subscribed to 24.87% and 13.05% of the issue, respectively. The Monetary Authority of Singapore has subscribed to an 8.34% issue, and Goldman Sachs Funds through Goldman Sachs Emerging Markets Equity Portfolio has subscribed to 6.70% of the issue.

The company has approved the issue and allotment of shares to eligible, qualified institutional buyers at the issue price of Rs 1,450 against the floor price of Rs 1,513.39 per share, Godrej Properties said in a regulatory filing.

In February, the company had approved an enabling resolution to raise up to Rs 3,750 crore equity or debt capital through public or private issue in one or more tranches.

Godrej Properties raised these funds to drive consolidation through this additional capital and use it to strengthen the company's development portfolio significantly.

Image Source


Also read: Godrej Properties plans QIP to buy land parcel

The real estate arm of the Godrej Group, Godrej Properties, has raised Rs 3,750 crore through a Qualified Institutional Placement (QIP) of 2.59 crore equity shares to global investors including the Government of Singapore, Goldman Sachs Funds and Invesco Oppenheimer Developing Markets Fund. The company will use the money to buy land and expand its business. Government of Singapore Investment Corporation (GIC) invested $110 million and Invesco Developing Markets Fund and other funds managed by Invesco Advisers Inc put in $150 million. The QIP, which was launched on March 9 and closed on March 15, was set at Rs 1,450 per share. It saw a strong mix of investors, with nearly 90% of the book going to long-only investors. Universities Superannuation Scheme, Monetary Authority of Singapore, and Baron Emerging Markets Fund are also among the investors that have been allotted more than 5% equity shares offered in the issue. Invesco Oppenheimer Developing Markets Fund and the Government of Singapore have subscribed to 24.87% and 13.05% of the issue, respectively. The Monetary Authority of Singapore has subscribed to an 8.34% issue, and Goldman Sachs Funds through Goldman Sachs Emerging Markets Equity Portfolio has subscribed to 6.70% of the issue. The company has approved the issue and allotment of shares to eligible, qualified institutional buyers at the issue price of Rs 1,450 against the floor price of Rs 1,513.39 per share, Godrej Properties said in a regulatory filing. In February, the company had approved an enabling resolution to raise up to Rs 3,750 crore equity or debt capital through public or private issue in one or more tranches. Godrej Properties raised these funds to drive consolidation through this additional capital and use it to strengthen the company's development portfolio significantly. Image Source Also read: Godrej Properties plans QIP to buy land parcel

Next Story
Real Estate

Ashwin Sheth Group Launches ‘The Pink Perk’ to Empower Women Homebuyers

Ashwin Sheth Group has introduced ‘The Pink Perk’, a special initiative for Women’s Month, offering a 3 per cent saving for women homebuyers (T&C apply) across all its Mumbai projects. The offer is valid until 31 March 2025.The campaign challenges the Pink Tax, where women often pay more for similar products and services. With The Pink Perk, Ashwin Sheth Group flips the script, providing an exclusive financial advantage to women taking charge of their homeownership journey.Bhavik Bhandari, Chief Sales and Marketing Officer, Ashwin Sheth Group, stated: “The Pink Perk is our way of c..

Next Story
Infrastructure Transport

Shipping Ministry Aims to Complete 150 Projects by September 2025

The Ministry of Ports, Shipping and Waterways (MoPSW) organised a two-day ‘Chintan Shivir, 2025’ in Srinagar with a vision to evaluate, reset, discover and apply solutions to unlock potential of the Blue Economy of India. Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal reviewed undergoing projects of the Ministry — worth Rs 2 Trillion — and drew up a goal, after consultative deliberation with the experts, of completing at least 150 projects by September, 2025. The event focused on strengthening India’s shipbuilding and repair capabilities, improving financial and..

Next Story
Infrastructure Urban

NHRC Concludes 2nd ITEC Program on Human Rights for Global South NHRIs

The 2nd six-day ITEC Executive Capacity Building Programme on Human Rights for senior functionaries of the National Human Rights Institutions (NHRIs) of Global South organised by the National Human Rights Commission (NHRC), India in partnership with the Ministry of External Affairs, successfully concluded. The valedictory session was addressed by the NHRC, India Chairperson, Justice V Ramasubramanian in the presence of Members Justice (Dr) Bidyut Ranjan Sarangi, Vijaya Bharathi Sayani & Secretary General, Bharat Lal. The programme, which began on Monday 3rd March, 2025, witnessed participatio..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?