Godrej Properties raises 1,000 crore through preferential issue

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Gaurika Sharma

Godrej Properties raises 1,000 crore through preferential issue

 Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), one of India’s leading real estate developers, announced that it has completed the allotment of 1,27,65,000 equity shares of Rs. 5 each to GAMNAT Pte. Ltd., a GIC- managed investment firm.  Through this preferential allotment, the issued, subscribed, and paid up capital of GPL stands increased to Rs.1,14,66,04,775 consisting of 22,93,20,955 equity shares of  Rs. 5/- each. The total capital raised from this issue is Rs. 1,000 crore.

Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are very happy to have a high-caliber institutional investor partner us in this next stage of our growth. We will use the entire capital raised to fund our exciting growth opportunities across India’s leading real estate markets. “

About Godrej Properties Ltd.

Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 121–year legacy of excellence and trust with a commitment to cutting-edge design and technology. Godrej Properties is currently developing residential, commercial and township projects spread across approximately 14 million square meters (151 million square feet) in 12 cities.

In the last 3 years, Godrej Properties has received over 200 awards and recognitions, including the “Real Estate Company Of The Year” at the Construction Week India Awards 2015, ‘Golden Peacock Award for Sustainability’ for the year 2015 by Institute Of Directors (IOD), “Most Reliable Builder for 2014″ at the CNBC AWAAZ Real Estate Awards 2014, “Innovation Leader in Real Estate” award at the NDTV Property Awards 2014 and “Popular Choice – Developer of the Year” award by ET NOW in 2013.

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