Godrej Properties raises over Rs 1,000 crore through share issue to GIC entity

MUMBAI: Realty developer Godrej Properties has raised over Rs 1,000 crore through an issue of 12.76 million shares to an investor Gamnat Pte Ltd on preferential basis at Rs 783.50 per share, the company said in a regulatory filing.

Gamnat Pte Ltd, which has acquired 5 per cent post-allotment stake in the developer at entity level, is an investment firm managed by Singapore sovereign wealth fund GIC.

"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, Godrej Properties.


Godrej Properties is currently developing residential, commercial and township projects spread across around 151million sq ft in 12 cities.