Godrej Properties Hits All-Time High As Company Raises Rs 2,100 Crore



Shares of Godrej Properties jumped 11 percent to hit an all-time high of Rs 1,118 in Monday’s session after the company on June 29 said it has raised Rs 2,100 crore by issuing equity shares to qualified institutional buyers (QIBs).

The QIP committee of the board of directors at its meeting held on June 29 approved the issue and allotment of over 2.26 crore equity shares to eligible qualified institutional buyers at the issue price of Rs 928, aggregating to Rs 2,100 crore, Godrej Properties said in a regulatory filing. 

“Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stands increased from Rs 114.69 crore consisting of 22.93 crore shares to Rs 126.01 consisting of 25.2 crore shares,” it added. 

Shares of Godrej Properties closed 9.38 percent up at Rs 1,097.40 on BSE. 

Source: Economic Times, Delhi/NCR



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