Godrej Properties upsizes share sale to raise $90 million

The deal, which is the first to be completed under the new IPP structure, prices at the bottom for a 7.3% discount.

Godrej Properties upsizes share sale to raise $90 million
Godrej's Trees Project in Mumbai

Godrej Properties, an Indian property developer, announced yesterday that it was able to raise Rs4.71 billion $90 million from its follow-on share sale. The price was fixed at the bottom of the range, but the offering was oversubscribed, which enabled the company to exercise the upsize option in full.

The deal took place last Thursday March 22 and was the first to be completed under a new mechanism referred to as an institutional placement...

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