Godrej Properties has decided to sell a total 8.14 million shares via a institutional placement programme. The company has already got shareholder nod to raise up to Rs750 crore through share sale.
View: Promoters of Godrej properties need to bring down their stake to 75% from 85% at present and the proposed issue will help them achieve the target. Further, the fund raising will help the company support its planned new launches across regions (without raising too much of debt) which should augur well in terms of revenue growth.
....more info
View: Promoters of Godrej properties need to bring down their stake to 75% from 85% at present and the proposed issue will help them achieve the target. Further, the fund raising will help the company support its planned new launches across regions (without raising too much of debt) which should augur well in terms of revenue growth.
....more info