Godrej Properties moves up on getting nod to raise Rs 750 crore through NCDs
Godrej Properties is currently trading at Rs. 1551.35, up by 16.50 points or 1.08% from its previous closing of Rs. 1534.85 on the BSE.
The scrip opened at Rs. 1552.90 and has touched a high and low of Rs. 1557.05 and Rs. 1535.25 respectively. So far 11443 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1588.95 on 15-Jun-2023 and a 52 week low of Rs. 1005.70 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1558.45 and Rs. 1478.45 respectively. The current market cap of the company is Rs. 43234.91 crore.
The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 31.78% and 9.74% respectively.
Godrej Properties has received approval to raise funds through issuance of 75,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures (NCDs) of Face Value of Rs 1,00,000 each, aggregating to Rs 750 crore consisting of a Base Issue of 50,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures of Face Value of Rs 1,00,000 each, aggregating to Rs 500 crore with an option to retain oversubscription of up to 25,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,00,000 each, aggregating to Rs 250 crore (Series A Debentures). The Management Committee of the Board of Directors of the Company at its meeting held on June 26, 2023, approved the same.
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.
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