Godrej Properties Ltd to raise Rs.750 crores

The Board of Directors of Godrej Properties Ltd at its meeting held on October 21, 2011, has approved, subject to the approval of the shareholders of the Company and the regulatory authorities, as may be required, the proposal of issuance of further equity shares by way of various means such as a public issue, rights issue, private placement or a combination thereof, including a qualified institutions placement in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, in one or more offerings/ tranches, such that the total amount raised, including premium, shall not exceed Rs.750 Crores (Rupees Seven Hundred and Fifty Crores).

The stock closed the day at Rs.667, up by Rs.2.35 or 0.35%. The stock hit an intraday high of Rs.685 and low of Rs.653.50.

The total traded quantity was 15747 compared to 2 week average of 4540.

Source : Equity Bulls

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