Godrej Properties jumps on launching QIP to raise up to Rs 3,750 crore
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Godrej Properties is currently trading at Rs. 1484.90, up by 33.05 points or 2.28% from its previous closing of Rs. 1451.85 on the BSE.
The scrip opened at Rs. 1475.00 and has touched a high and low of Rs. 1523.90 and Rs. 1475.00 respectively. So far 15422 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1573.45 on 01-Mar-2021 and a 52 week low of Rs. 505.95 on 24-Mar-2020.
Last one week high and low of the scrip stood at Rs. 1530.00 and Rs. 1447.05 respectively. The current market cap of the company is Rs. 37490.74 crore.
The promoters holding in the company stood at 64.44%, while Institutions and Non-Institutions held 25.77% and 9.79% respectively.
Godrej Properties (GPL) has launched a qualified institutional placement (QIP) issue to raise up to Rs 3,750 crore through the sale of shares. The QIP committee of the board of directors, in its meeting held on March 09, 2021, approved and adopted the preliminary placement document in connection with the issue. The company did not disclose the amount it has proposed to raise through QIP.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
