Godrej Properties has dipped nearly 6% to Rs 357, also its record low since listing in January 2010 on BSE, after the new equity shares issued by the company at price of Rs 325 per share on rights basis got listed today.
Total 21.54 million equity shares of Rs 10/- each issued at a premium of Rs 315 per share are listed on the exchange with effect from Tuesday, September 24, 2013, Godrej Properties said in a BSE notice.
Realty firm has raised Rs 700 crore by selling fresh shares to existing shareholders through a rights issue. The proceeds of the rights issue would be utilized for adding new projects and reducing debt.
The stock opened at Rs 375 and has seen a combined around 53,000 shares change hands on the counter on BSE and NSE till 1145 hours.
Total 21.54 million equity shares of Rs 10/- each issued at a premium of Rs 315 per share are listed on the exchange with effect from Tuesday, September 24, 2013, Godrej Properties said in a BSE notice.
Realty firm has raised Rs 700 crore by selling fresh shares to existing shareholders through a rights issue. The proceeds of the rights issue would be utilized for adding new projects and reducing debt.
The stock opened at Rs 375 and has seen a combined around 53,000 shares change hands on the counter on BSE and NSE till 1145 hours.