Godrej Properties Ltd approves issue of 1,27,65,000 equity shares

The Board of Directors of Godrej Properties Ltd, at its meeting held on May 4, 2018, considered and approved, subject to the approval of the shareholders, the issue of 1,27,65,000 equity shares of the Company of the face value of Rs. 5 each ('Equity Shares') at a price of Rs. 783.50 (which includes a premium of Rs. 778.50 per Equity Share) aggregating to Rs. 1000,13,77,500 (Rupees One Thousand Crore Thirteen Lakh Seventy Seven Thousand and Five Hundred) to Gamnat Pte. Ltd. ('Investor'), on preferential basis.

With respect to the above investment, the Company would be entering into an investment agreement with the Investor prior to the date of the aforesaid Extra Ordinary General Meeting.

The Board meeting commenced at 11:30 a.m and concluded at 1:00 p.m.

Shares of Godrej Properties Ltd was last trading in BSE at Rs.785.25 as compared to the previous close of Rs. 795.75. The total number of shares traded during the day was 13049 in over 642 trades.

The stock hit an intraday high of Rs. 819 and intraday low of 780.8. The net turnover during the day was Rs. 10287977.

Source : Equity Bulls

Keywords