Godrej Properties' share sale oversubscribed 18%

Real estate developer Godrej Properties' share sale to raise up to Rs 450 crore was oversubscribed by nearly 18% at the close of the auction on Thursday, stock exchange data showed.

Institutional investors bid for 8.7 million shares of the 7.4 million shares on offer via a newly approved auction programme, the Bombay Stock Exchange website showed.