Godrej Properties raises Rs 11.60 Bn
Real Estate

Godrej Properties raises Rs 11.60 Bn

Godrej Properties has successfully raised Rs 11.60 billion through the issuance of non-convertible debentures (NCDs) on a private placement basis, as reported in a BSE filing.

The board of directors of Godrej Properties authorised the allotment of two series of debentures: series I debentures, consisting of 1,00,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs. 0.1 million each, amounting to Rs. 10 billion, and series II debentures, comprising 16,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, aggregating to Rs. 1.60 billion, allotted to identified investors through private placement.

The Rs 10 billion NCDs consist of a base issue of Rs. 40,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs. 0.1 million each, totalling Rs 4 billion, and a green shoe option of Rs. 60,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, aggregating to Rs 6 billion. These NCDs offer a fixed coupon rate of 8.3% per annum, with a maturity date of March 19, 2027.

Additionally, the Rs. 5 billion NCDs comprise a base issue of 10,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, amounting to Rs 1 billion, and a green shoe option of 40,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, totalling Rs 4 billion. These NCDs offer a fixed coupon rate of 8.5% per annum, with a maturity date of September 20, 2028.

Both series of debentures have received favourable ratings, with ICRA assigning [ICRA] AA+ (Stable) ratings and India Ratings awarding IND AA+/Stable ratings.

Godrej Properties has successfully raised Rs 11.60 billion through the issuance of non-convertible debentures (NCDs) on a private placement basis, as reported in a BSE filing.The board of directors of Godrej Properties authorised the allotment of two series of debentures: series I debentures, consisting of 1,00,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs. 0.1 million each, amounting to Rs. 10 billion, and series II debentures, comprising 16,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, aggregating to Rs. 1.60 billion, allotted to identified investors through private placement.The Rs 10 billion NCDs consist of a base issue of Rs. 40,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs. 0.1 million each, totalling Rs 4 billion, and a green shoe option of Rs. 60,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, aggregating to Rs 6 billion. These NCDs offer a fixed coupon rate of 8.3% per annum, with a maturity date of March 19, 2027.Additionally, the Rs. 5 billion NCDs comprise a base issue of 10,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, amounting to Rs 1 billion, and a green shoe option of 40,000 rated listed unsecured redeemable non-convertible debentures with a face value of Rs 0.1 million each, totalling Rs 4 billion. These NCDs offer a fixed coupon rate of 8.5% per annum, with a maturity date of September 20, 2028.Both series of debentures have received favourable ratings, with ICRA assigning [ICRA] AA+ (Stable) ratings and India Ratings awarding IND AA+/Stable ratings.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code