Godrej Properties raises Rs 6K cr via QIP mainly to acquire land for future development

Realty firm Godrej Properties Ltd has raised Rs 6,000 crore by selling shares to institutional investors, including Singapore sovereign wealth firm GIC and SBI Pension, through qualified institutional placement (QIP) route as it looks to expand business amid strong demand for residential plots and apartments. On November 27th, the company launched its QIP issue to raise up to Rs 6,000 crore.