New investor Invesco Developing Markets Fund invests USD 150 mn
Godrej Properties announced that the company raised Rs 3750 crore through the QIP route.The company saw a strong mix of investors with nearly 90% of the book being allocated to long only investors. GPL's largest existing external shareholder, GIC, strongly backed the QIP with an investment of USD 110 million while the largest investor in the QIP was a new investor, Invesco Developing Markets Fund and certain other funds managed by Invesco Advisers, Inc., that is investing USD 150 million.
GPL has identified several growth opportunities and intends to use the net proceeds received from this issue for augmenting long term capability building and scaling the business rapidly in the years to come.
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