Godrej Properties Files DHRP With SEBI

Godrej Properties Ltd, Real estate arm of the Godrej Group, declared that it has filed the Draft Red Herring Prospectus (DHRP) with SEBI for an IPO of approx seven million shares.

According to a company statement, the firm proposes an IPO of 9,429,750 equity shares of ten rupees each through 100% book building process to part finance this plan. ICICI Securities Ltd and Kotak Mahindra Capital Company Limited are the BRLMs for the Issue.

The company currently has real estate development projects in eleven cities in the country at various stages of development.

It has completed a total of 19 projects consisting 13 residential and 6 commercial project on 15th of this month.

Godrej Properties’ land reserves currently stands at 404 acres, which includes its ongoing projects and forthcoming projects.

Its promoter and parent company Godrej Industries Limited, currently holds 81.41% of the equity share capital of Godrej Properties.

2 Comments

  1. Posted June 2, 2008 at 12:21 am | Permalink

    Godrej seems to be gung-ho about it’s new real estate arm.The heavy marketing in the recently concluded IPL bears testimony to this.

  2. Posted June 23, 2008 at 7:20 am | Permalink

    Godrej Properties was established in 1990 as a real estate development company within the Godrej Group of businesses. The company was originally incorporated as Sea Breeze Constructions and Investments Private Limited on February 8, 1985. The company’s name was changed to Godrej Properties and Investments Private Limited on July 2, 1990 and subsequently to Godrej Properties Limited on November 23, 2004. Since 1897, customers have trusted Godrej to deliver innovation and excellence across a broad spectrum of services and products.

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