Godrej Properties Limited — Important, 02-12-2024: Updates

The QIP Placement Committee of Godrej Properties Limited has approved the closure of its qualified institutional placement, having received applications and funds from eligible institutional buyers. The issue price has been set at ₹2,595 per equity share, reflecting a discount of ₹132.44 (approximately 4.86%) from the floor price of ₹2,727.44. A total of 2,31,21,387 equity shares will be allotted to qualified institutional buyers. The Committee also approved sending out allocation confirmations to buyers and issuing refund notifications to bidders entitled to refunds. This capital raise will enhance God's financial position and provide funding for growth initiatives, indicating a positive outlook for future projects and expansion.