Godrej Properties shares in focus as co launches QIP to raise Rs 6,000 crore
Godrej Properties will be in focus on Thursday after the company launched its qualified institutional placement (QIP) on Wednesday to raise up to Rs 6,000 crore by selling equity shares to investors, supporting its growth plans.
Last month, the company's board approved the issuance of securities to raise the same amount. In a regulatory filing, Godrej Properties announced that the QIP Placement Committee had authorized the issue to open on November 27, 2024.
The committee also set the floor price for the QIP at Rs 2,727.44 per equity share.
Godrej Properties' stock closed at Rs 2,833.05 per share on Wednesday, marking a 2.35% decline from the previous day.
Along with the launch of QIP, the company also announced that it has acquired a 53 acre land parcel in Joka, Kolkata.
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