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 Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..