Godrej Properties raises Rs 64.6 cr via issue of debentures to investors

Realty firm Godrej Properties has raised Rs 64.6 crore through the issue of debentures to investors on private placement.

In a regulatory filing on Tuesday, the company said a committee of the board approved the allotment of 6,460 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs 1 lakh each, aggregating to Rs 64.6 crore to the identified investors on a private placement basis.

The NCDs have been allotted at a coupon rate of 8.50 per cent per annum. Interest will be paid annually and on maturity. The tenor of NCDs is 5 years.

Godrej Properties is one of the leading real estate developers in the country. It has a significant presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad markets.