Oberoi Realty may raise up to Rs 2250 cr via debenture/equity

Oberoi Realty today said its board has passed an enabling resolution for raising up to Rs 2,250 crore by issuing debentures and equity shares through public offer and private placement.
In a filing to the BSE, Mumbai-based developer said the board, at its meeting held today, passed an enabling resolution for issue of non-convertible debentures of up to Rs 1,500 crore by way of private placement in one or more tranches.
The board also approved issue of equity shares and/or any other securities convertible into equity by way of one or more public offer or private placement, or both, for an aggregate amount not exceeding Rs 750 crore, including premium.

The company's share price rose by 0.15 per cent at Rs 309.70 apiece on the BSE.
Oberoi Realty posted 34 per cent increase in consolidated net profit at Rs 103.02 crore for the quarter ended March 31, 2015 against Rs 77.03 crore in the year-ago period.
The revenue rose to Rs 349.33 crore for January-March quarter of 2014-15 fiscal as against Rs 228.49 crore in the year-ago period.
The company's net profit for 2014-15 fiscal stood at Rs 317.12 crore as against Rs 311.06 crore for FY14. It recorded a revenue of Rs 940.16 crore for 2014-15 as against Rs 855.52 crore in 2013-14.