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Godrej Properties raises Rs 3,750 crore through QIP
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Goldman Sachs Funds, Government of Singapore, Invesco Oppenheimer Developing Markets Fund and Monetary Authority of Singapore among key investors
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The company has raised these funds to drive consolidation through this additional capital and use it to significantly strengthen its development portfolio.
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MUMBAI: Godrej Properties, real estate development arm of the Godrej Group, has raised Rs 3,750 crore through a Qualified Institutional Placement (QIP) of 2.59 crore equity shares to global investors including Goldman Sachs Funds, Government of Singapore and Invesco Oppenheimer Developing Markets Fund.
Monetary Authority of Singapore, Universities Superannuation Scheme and Baron Emerging Markets Fund are also among the investors that have been allotted more than 5% equity shares offered in the issue.