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Godrej Properties raises Rs 1,000 cr from GIC-managed firm

Press Trust of India  |  New Delhi 

Realty firm Properties today said it has raised Rs 1,000 crore through issue of preferential shares to a GIC-managed investment firm.

In a filing to the BSE, the company said that an allotment committee of the board of directors has allotted 1,27,65,000 equity shares to on preferential basis at the price of Rs 783.50 per equity share.

GAMNAT is a GIC-managed investment firm.

"The total capital raised from this issue is Rs 1,000 crore," the company said in a statement.

"We will use the entire capital raised to fund our exciting growth opportunities across India's leading real estate markets," said Pirojsha Godrej, Executive Chairman, Properties said.

Properties, the of Godrej group, is currently developing residential, commercial and township projects spread across 151 million square feet in 12 cities.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 08 2018. 13:20 IST