Godrej Properties on the verge to raise upto Rs.6000crore via securities

India’s one of the leading real estate developer firm Godrej Properties has declared that they are planning raise upto Rs.6000 crore through the issuance of various securities. This significant decision was made during the board meeting of Godrej Properties today.

The company is planning to raise funds via multiple options, including equity shares, convertible debentures, and other convertible securities.

The process of the issuance will be conducted through public offerings, private placements, qualified institutional placements, or rights issues, subject to shareholder approval via postal ballot.

This initiative is designed to enhance Godrej Properties' financial stability and bolster its growth strategies. The board has also sanctioned a notice for a postal ballot to obtain shareholder approval for the fundraising effort.

Being a major developer, Godrej Properties marked its strong presence in in Delhi-NCR, Mumbai Metropolitan Region, Pune, and Bengaluru.

Godrej Properties' stock increased by as much as 1.87% during the day, reaching Rs.3,220 per share on the NSE. It later trimmed its gains, trading 0.82% higher at Rs.3,186.9 per share, compared to a 0.05% rise in the benchmark Nifty 50 as of 12:15 p.m.

Over the past year, the stock has surged 104% and has gained 58% year-to-date. The relative strength index stands at 60. Among the 20 analysts following the company, 13 have assigned a 'buy' rating, two recommend a 'hold,' and five suggest a 'sell,' according to Bloomberg data. The average 12-month price targets from analysts indicate a potential upside of 2.4%.

Prior to this fundraising the company reported total income of Rs.1,699.48 crore for the first quarter of the financial year 2025 (Q1 FY2025).