Godrej Properties QIP: Rs 6000 Crore Fundraise - Check Floor Price, Opening Date of the Issue

Godrej Properties on Wednesday launched its qualified institutional placement (QIP) to sell equity shares to raise up to Rs 6,000 crore. In an exchange filing, Godrej Properties also announced the floor price of the QIP. In October, the board of directors of Godrej Properties approved a QIP worth Rs 6000 crore via the issue of securities.

Godrej Properties QIP: Check Floor Price, Opening Date of the Issue

In an exchange filing, Godrej Properties said that the opening day of the issue is November 27, 2024. The board also approved the floor price of the Godrej QIP offer at Rs 2727.44 per equity share.

"Approving the floor price for the Issue, being ₹ 2,727.44 per Equity Share, (“Floor Price”), based on the pricing formula as prescribed under the SEBI ICDR Regulations. In this relation, we will file the preliminary placement document dated November 27, 2024, with the BSE Limited and National Stock Exchange of India Limited on November 27, 2024," Godrej Properties said in a regulatory filing.

Godrej Properties Share Price Today

Meanwhile, Godrej Properties' share price closed at Rs 2,833.05 apiece on Wednesday, down 2.35 per cent from Tuesday. In the quarter gone by, Godrej Properties' sales booking jumped 84 per cent to a record Rs 22,527 crore, the highest among listed realty firms in 2023-24. In the quarterly results announced last month, the company's total income grew by 135% to INR 1,343 crore as compared to INR 571 crore in the corresponding quarter in FY 2024. EBITDA grew by 69% to INR 282 crore as compared to INR 167 crore over the year-ago period. Net Profit grew by 402% to INR 335 crore as compared to INR 67 crore during the same quarter last year. According to the company, its earnings per share amounted to Rs 12.06 as compared to INR 2.40 in Q2 FY 2024.