Business Standard

Godrej Prop zooms 6% on share sale momentum

Related News

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 institutional buyers 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, Godrej Properties 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.

Read more on:   
|
|
|

Read More

IABF to close $120-mn fund this year

India Agri Business Fund (IABF), a $120- million equity fund instituted in 2008 for which Rabo Equity Advisors is an investment advisor, is planning ...

Quick Links

 

Market News

Foreign investors submit bids worth Rs 3,640 cr for govt bonds

Auction was held for overseas investors at BSE's ebidxchange

Why OMCs are the best play in markets right now

Lower crude prices, higher margins and falling subsidies make OMC an attractive bet

Nifty ends above 7,900 for the first time after record high

The Nifty and Bank Nifty ended at record closing highs of 7,913 and 15,819, respectively

Sensex hovers around 26,400; IT and banks gain

At 14.45 PM, the BSE Sensex gained 58 points at 26, 422 while the CNX Nifty was up 21 points at 7,921

Hotel Leela Venture climbs 6% on news clarification

Hotel Leela Venture has surged 6% to Rs 25 on BSE after the company issued a clarification on the media news item.

Back to Top