Godrej Properties eyes Rs 6,000 crore capital raise

1 Oct 2024 , 02:42 PM

Godrej Properties said on Tuesday that its board has approved funding up to Rs 6,000 crore through the issuance of securities. In a regulatory filing, Godrej Properties stated that the board has approved the raising of capital in an amount not exceeding Rs 6,000 crore.

The money would be raised by issuing securities such as equity shares, debentures, preference shares, and/or other qualifying securities.

The funds could be raised in one or more tranches through public and/or private offerings, such as qualified institutional placements, rights issues, subsequent public offerings, or any other mechanism permitted by applicable legislation, and/or a combination of the two.

Godrej Properties is a significant developer in the country. It has a significant presence in Delhi-NCR, the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. It has recently entered the Hyderabad market.

In the previous fiscal year, the company’s sales bookings increased by 84% to a record Rs 22,527 crore, making it the largest among listed real estate enterprises for 2023-24.

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