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Rs 600 crore raised by Godrej Properties

Comments(2) Sub Category:Uncategorized Posted On: Feb 15, 2012

The real estate wing of the Godrej Group, “Godrej Properties Limited” will soon be raising Rs 500-600 crore fund through institutional placement program (IPP).

The Godrej Properties experts are planning to dilute the stake from 84 per cent to 75 per cent through the IPP.

The main agenda behind the fund raising is to reduce the outstanding debt which is around Rs 2,000 crore.

Also, the company is the pace of launching a Rs 450-crore residential project at Sriperumbudur in Chennai.

As a part of Chennai-based Amalgamations Group the company will be launching “Godrej Palm Grove” an apartment project comprising of 1,500 apartments in a 12.5 acre land.

Source: Business Standard

2 Responses to “Rs 600 crore raised by Godrej Properties”

  1. [...] ‘A’ city like Kolkata is 7.5 cottah or about 500 square meters. Adi Godrej, Chairman of Godrej Properties was the first person to demand to repeal [...]

  2. [...] ‘A’ city like Kolkata is 7.5 cottah or about 500 square meters. Adi Godrej, Chairman of Godrej Properties was the first person to demand to repeal [...]

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