The Bombay Stock Exchange (BSE) has today decided to include Godrej Properties in its bourse IPO index effective from January 7, the BSE said in a statement.
Shares of real estate developer Godrej Properties, today closed 9.09 per cent higher at Rs 534.55 on the Bombay Stock Exchange and 9.64 per cent at Rs 537.25 on the National Stock Exchange (NSE) here.
Godrej Properties had raised about Rs 462-crore through an initial share sale last month and fixed the IPO price at the lower end of the price band at Rs 490.
The realty firm, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company plans to use the proceeds to acquire land, new projects and to repay loans.