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

11 Mar 2026

India Expands Semiconductor Training To 500 Institutions

Under the Chips to Startups programme of the India Semiconductor Mission, the Union minister responsible for Railways, Information and Broadcasting, and Electronics and IT reported notable progress in talent development. He indicated that over the past four years substantial steps have been taken towards a 10-year target of training 85,000 engineers in semiconductor design. World-class EDA tools have been deployed in 315 academic institutions across the country to provide students with practical exposure to chip design. These EDA tools are supported by leading global firms and are accessible t..

Infrastructure Urban

11 Mar 2026

Delhi Institutions Support India Semiconductor Mission

The Government of India has prioritised talent development through training, upskilling and workforce development under the Chips to Startups initiative of the India Semiconductor Mission, with officials noting progress in four years towards a 10-year target of training 85,000 engineers in semiconductor design. Electronic design automation tools provided by Synopsys, Cadence, Siemens, Renesas, Ansys and AMD have been deployed in 315 academic institutions, enabling students to gain practical chip design experience. Chips have been fabricated and tested at the Semiconductor Laboratory, Mohali, a..

Infrastructure Urban

11 Mar 2026

NHA Announces Winners Of NHCX Hackathon At IIT Hyderabad

The National Health Authority (NHA) has concluded the NHCX Hackathon under the Ayushman Bharat Digital Mission (ABDM) to stimulate innovation around the National Health Claims Exchange (NHCX). The winning teams presented their solutions at the NHCX Innovation Meet held at IIT Hyderabad during a two-day event in March 2026 that also served as the hackathon grand finale. The hackathon itself ran from 22 to 28 February 2026 and aimed to accelerate paperless, transparent claims processing across India. The event was organised with a range of ecosystem partners, including the Insurance Regulatory a..