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Godrej Properties To Raise Funds Via QIP

Godrej Properties Ltd. said its Securities Issuance Committee decided to issue up to 7,442,555 equity shares of Rs,10 each, with a right to allot an additional up to 744,255 equity shares in case of over-subscription, to eligible qualified institutional buyers by way of an institutional placement programme.

The price band or the floor price and the issue opening and closing dates will be decided in consultation with the book running lead managers and announced at least one day prior to the issue opening date, the company has informed the stock exchanges.

At the BSE, Godrej Properties closed Friday's trading at Rs 650.25, down by 2.82 percent from the previous close. The share's 52-week high price is Rs 845 on the exchange.

by RTT Staff Writer

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