Godrej Properties IPO : Fixes price at Rs 490/share

by khalid on 16/12/2009 · 0 comments

godrej properties

Godrej Properties is a Mumbai based real estate company. Godrej Properties Ltd has fixed its offer price for its IPO of 9.4 million equity shares at Rs 490 per share at the lower end of its price band of Rs 490/ Rs 530 per share. The issue was open for subscription during on 9th December 09 and 11th December 09.

This IPO proceeds will be used for acquisition of land development rights for forthcoming projects, construction of forthcoming projects and repayment of loans.

ICICI Securities and Kotak Mahindra are bankers to the issue. Godrej Industries currently holds 80.3% in GPL.

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