NEW DELHI: Godrej Properties reported on Saturday that it has collected Rs 2,100 crore by issuing equity shares to eligible institutional buyers. Godrej Properties said in a regulatory notice that the QIP committee of the company's board of directors in its meeting held on Saturday has allowed eligible institutional investors to allocate and issue 2.26 crore equity shares.
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These shares will be paid at an issue price of Rs. 928. This will collect capital of Rs 2,100 crore in total. The issue will open on June 25 and close on June 28, 2019. "After the issuance of equity shares in the issue, the company's paid-up capital increased from Rs 22.93 crore to Rs 114.69 crore, to Rs 126.01 crore on the issue of 25.2 crore shares," it said.
The Godrej family is discussing changes in some family agreements. In fact, there are differences in the family's future business strategy. The differences between Jamshed Godrej and his cousins, Adi and Nadir Godrej, are emerging, which has led to some family changes.
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