Godrej Properties QIP raises Rs 3,750 cr

17 Mar 2021 Editorial Team

The company will use the money to buy land and expand its business. Government of Singapore Investment Corporation (GIC) invested $110 million and Invesco Developing Markets Fund and other funds managed by Invesco Advisers Inc put in $150 million.

The QIP, which was launched on March 9 and closed on March 15, was set at Rs 1,450 per share. It saw a strong mix of investors, with nearly 90% of the book going to long-only investors.

Universities Superannuation Scheme, Monetary Authority of Singapore, and Baron Emerging Markets Fund are also among the investors that have been allotted more than 5% equity shares offered in the issue.

Invesco Oppenheimer Developing Markets Fund and the Government of Singapore have subscribed to 24.87% and 13.05% of the issue, respectively. The Monetary Authority of Singapore has subscribed to an 8.34% issue, and Goldman Sachs Funds through Goldman Sachs Emerging Markets Equity Portfolio has subscribed to 6.70% of the issue.

The company has approved the issue and allotment of shares to eligible, qualified institutional buyers at the issue price of Rs 1,450 against the floor price of Rs 1,513.39 per share, Godrej Properties said in a regulatory filing.

In February, the company had approved an enabling resolution to raise up to Rs 3,750 crore equity or debt capital through public or private issue in one or more tranches.

Godrej Properties raised these funds to drive consolidation through this additional capital and use it to strengthen the company's development portfolio significantly.

Image Source

Also read: Godrej Properties plans QIP to buy land parcel

The real estate arm of the Godrej Group, Godrej Properties, has raised Rs 3,750 crore through a Qualified Institutional Placement (QIP) of 2.59 crore equity shares to global investors including the Government of Singapore, Goldman Sachs Funds and Invesco Oppenheimer Developing Markets Fund. The company will use the money to buy land and expand its business. Government of Singapore Investment Corporation (GIC) invested $110 million and Invesco Developing Markets Fund and other funds managed by Invesco Advisers Inc put in $150 million. The QIP, which was launched on March 9 and closed on March 15, was set at Rs 1,450 per share. It saw a strong mix of investors, with nearly 90% of the book going to long-only investors. Universities Superannuation Scheme, Monetary Authority of Singapore, and Baron Emerging Markets Fund are also among the investors that have been allotted more than 5% equity shares offered in the issue. Invesco Oppenheimer Developing Markets Fund and the Government of Singapore have subscribed to 24.87% and 13.05% of the issue, respectively. The Monetary Authority of Singapore has subscribed to an 8.34% issue, and Goldman Sachs Funds through Goldman Sachs Emerging Markets Equity Portfolio has subscribed to 6.70% of the issue. The company has approved the issue and allotment of shares to eligible, qualified institutional buyers at the issue price of Rs 1,450 against the floor price of Rs 1,513.39 per share, Godrej Properties said in a regulatory filing. In February, the company had approved an enabling resolution to raise up to Rs 3,750 crore equity or debt capital through public or private issue in one or more tranches. Godrej Properties raised these funds to drive consolidation through this additional capital and use it to strengthen the company's development portfolio significantly. Image Source Also read: Godrej Properties plans QIP to buy land parcel

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..