Godrej Properties launches QIP to raise up to Rs 6,000 crore

Godrej Properties connected Wednesday launched its qualified organization placement (QIP) to merchantability equity shares to investors for raising up to Rs 6,000 crore to money its maturation plan.

Last month, the company's committee approved raising of up to Rs 6,000 crore done the contented of securities.

In a regulatory filing, Godrej Properties informed that the QIP Placement Committee authorized the opening of the contented connected November 27, 2024.

The sheet besides approved the level terms for the QIP issue, being Rs 2,727.44 per equity share.

Godrej Properties' stock terms closed astatine Rs 2,833.05 apiece connected Wednesday, down 2.35 per cent from Tuesday.

The institution is 1 of the starring developers successful the country. It has a large beingness successful Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. It has entered into Hyderabad marketplace recently.

In the past fiscal, the company's income booking jumped 84 per cent to a grounds Rs 22,527 crore, the highest among listed realty firms successful 2023-24.

Godrej Properties has acceptable a people of achieving Rs 27,000 crore worthy of merchantability bookings.

During the April-September play of this fiscal, Godrej Properties' income booking worth grew 89 per cent annually to implicit Rs 13,800 crore. This is the highest-ever booking worth achieved by Godrej Properties during the archetypal fractional of a fiscal year.

To grow its lodging business, Godrej Properties acquires onshore done outright purchases arsenic good arsenic forming partnerships with landowners for associated development.

Godrej Properties has added 8 caller onshore parcels successful the archetypal six months of this fiscal with a full estimated saleable country of astir 11 cardinal quadrate feet and a full estimated booking worth imaginable of astir Rs 12,650 crore.