Indian IPP

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.
<div style="text-align: left;"> Godrej's Trees Project in Mumbai </div>
<div style="text-align: left;"> Godrej's Trees Project in Mumbai </div>
March 27, 2012

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.

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