Godrej Properties Raises Rs 64.6 Crore through Debentures

Godrej Properties has successfully raised Rs 64.6 crore by issuing debentures on a private placement basis. The debentures, with a face value of Rs 1 lakh each, offer a coupon rate of 8.50% per annum and have a maturity period of five years. This move bolsters the company's financial positioning.

Godrej Properties has successfully raised Rs 64.6 crore through the issuance of debentures to investors via private placement.

In a regulatory filing on Tuesday, the company announced the board's allotment of 6,460 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures (NCDs), each valued at Rs 1 lakh, aggregating to Rs 64.6 crore.

The NCDs bear a coupon rate of 8.50% per annum, with interest payable annually and upon maturity. The debentures have a five-year tenor.

Godrej Properties, a leading real estate developer, maintains a strong presence in major markets such as Delhi-NCR, MMR, Pune, Bengaluru, and Hyderabad.

(With inputs from agencies.)