Godrej Prop zooms 6% on share sale momentum

Shares of today gained over 6% on the bourses after the company's issue of shares to was oversubscribed.

At the BSE, the scrip ended the day with a gain of 6.65% at Rs 660.60. During the day, the stock jumped 7.84% to Rs 668.

On the NSE, the stock ended at Rs 655.20, up 5.68%.

Yesterday Godrej Properties' issue of shares to closed with 17% more bids than the 74.42 lakh shares on offer (excluding gree-shoe option).     The company is looking to raise about Rs 475 crore that would be utilised to cut debt and acquire realty projects.

According to data available on the BSE, received bids for 86,96,153 shares. The price band for the offer was Rs 575-620.

The company intends to use the net proceeds to reduce its current debt of about Rs 2,000 crore, acquisition of land development rights and general corporate purposes.

image
Business Standard
177 22
Business Standard

Godrej Prop zooms 6% on share sale momentum

Press Trust of India  |  Mumbai 



Shares of today gained over 6% on the bourses after the company's issue of shares to was oversubscribed.

At the BSE, the scrip ended the day with a gain of 6.65% at Rs 660.60. During the day, the stock jumped 7.84% to Rs 668.

On the NSE, the stock ended at Rs 655.20, up 5.68%.

Yesterday Godrej Properties' issue of shares to closed with 17% more bids than the 74.42 lakh shares on offer (excluding gree-shoe option).     The company is looking to raise about Rs 475 crore that would be utilised to cut debt and acquire realty projects.



According to data available on the BSE, received bids for 86,96,153 shares. The price band for the offer was Rs 575-620.

The company intends to use the net proceeds to reduce its current debt of about Rs 2,000 crore, acquisition of land development rights and general corporate purposes.

RECOMMENDED FOR YOU

Godrej Prop zooms 6% on share sale momentum

Shares of Godrej Properties today gained over 6% on the bourses after the company's issue of shares to institutional buyers was oversubscribed.

Shares of today gained over 6% on the bourses after the company's issue of shares to was oversubscribed.

At the BSE, the scrip ended the day with a gain of 6.65% at Rs 660.60. During the day, the stock jumped 7.84% to Rs 668.

On the NSE, the stock ended at Rs 655.20, up 5.68%.

Yesterday Godrej Properties' issue of shares to closed with 17% more bids than the 74.42 lakh shares on offer (excluding gree-shoe option).     The company is looking to raise about Rs 475 crore that would be utilised to cut debt and acquire realty projects.

According to data available on the BSE, received bids for 86,96,153 shares. The price band for the offer was Rs 575-620.

The company intends to use the net proceeds to reduce its current debt of about Rs 2,000 crore, acquisition of land development rights and general corporate purposes.

image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

More News

  • Shutterstock Gold above two-month lows as dollar slips; US jobs data in focus
  • RBL Bank lists at 22% premium to issue price RBL Bank lists at 22% premium to issue price

STOCK WATCH

Company Price() Chg(%)
Hind.Construct. 26.10 13.73
GVK Power Infra. 6.76 8.86
Dr Lal Pathlabs 1086.00 8.16
Punj Lloyd 22.25 7.23
Dalmia Bhar. 1648.15 6.21
> More on BSE Gainers
Company Price() Chg(%)
Hind.Construct. 26.20 14.16
GVK Power Infra. 6.75 8.87
Punj Lloyd 22.35 7.19
Dalmia Bhar. 1646.55 5.97
Lanco Infratech 4.55 5.81
> More on NSE Gainers
Company Price() Chg(%)
Trident 53.75 -4.02
Delta Corp 156.75 -3.54
Gulf Oil Lubric. 708.20 -3.17
Cox & Kings 187.40 -3.05
H T Media 85.70 -2.94
> More on BSE Gainers
Company Price() Chg(%)
Delta Corp 156.40 -4.05
Trident 53.75 -3.85
Cox & Kings 187.25 -3.18
Rajesh Exports 439.50 -2.83
Rain Industries 45.55 -2.67
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard