Godrej Properties shares gain on fund-raising plan
The company launched a qualified institutional placement (QIP) issue to raise up to Rs 3,750 crore through the sale of shares.
By PTI | Updated:
Agencies
NEW DELHI: The stock of Godrej Properties on Wednesday jumped 5 per cent in early trade after the company launched a qualified institutional placement (QIP) issue to raise up to Rs 3,750 crore through the sale of shares.
It gained 5 per cent to Rs 1,523.90 at the BSE.
At the NSE it rose by 4.22 per cent to Rs 1,524.90.
In a regulatory filing, the company said the QIP committee of the board of directors, in its meeting held on Tuesday, approved and adopted the preliminary placement document in connection with the issue.
It also approved the opening of the issue from March 9.
The panel approved the floor price for the issue at Rs 1,513.39.
Godrej Properties did not disclose the amount it has proposed to raise through QIP.
On Monday, its shareholders approved the proposal to raise up to Rs 3,750 crore through the issue of securities.
It gained 5 per cent to Rs 1,523.90 at the BSE.
At the NSE it rose by 4.22 per cent to Rs 1,524.90.
In a regulatory filing, the company said the QIP committee of the board of directors, in its meeting held on Tuesday, approved and adopted the preliminary placement document in connection with the issue.
It also approved the opening of the issue from March 9.
The panel approved the floor price for the issue at Rs 1,513.39.
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Godrej Properties did not disclose the amount it has proposed to raise through QIP.
On Monday, its shareholders approved the proposal to raise up to Rs 3,750 crore through the issue of securities.
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