Godrej Properties gains on raising Rs 1,160 crore through NCDs
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Godrej Properties is currently trading at Rs. 1565.70, up by 12.10 points or 0.78% from its previous closing of Rs. 1553.60 on the BSE.
The scrip opened at Rs. 1551.00 and has touched a high and low of Rs. 1575.85 and Rs. 1545.65 respectively. So far 18987 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1768.80 on 28-Jul-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. 1657.05 and Rs. 1545.65 respectively. The current market cap of the company is Rs. 43764.83 crore.
The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 33.15% and 8.36% respectively.
Godrej Properties has raised Rs 1,160 crore through the issue of non-convertible debentures on a private placement basis. The allotment committee of the Board of Directors approved the allotment of the Non-Convertible Debentures (NCDs).
The company has allotted 1 lakh rated listed unsecured redeemable NCDs of the face value of Rs 1,00,000 each, aggregating to Rs 1,000 crore. For these series I NCDs, the maturity date is March 19, 2027, with a coupon rate of 8.3 per cent. Separately, it has allotted 16,000 NCDs of a face value of Rs 1 lakh each, aggregating to Rs 160 crore. For these Series II NCDs, the date of maturity is September 20, 2028, and the coupon rate is 8.5 per cent. The interest for all NCDs will be paid annually.
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
