Godrej Properties (GODREJPROP) shares made strong moves on Tuesday, October 1, after the Mumbai-headquartered real estate firm’s board approved a plan to raise up to Rs 6,000 crore through securities. At 2:50 pm, the Godrej Properties stock was up 2.3 per cent for the day at Rs 3,231.2 apiece on BSE, having risen to as high as Rs 3,240.9 apiece to trade within 4.7 per cent of a fresh all-time high of Rs 3,400 scaled in mid-July.
Godrej Properties said the proposal includes several types of securities including equity shares, full/partly convertible debentures, non-convertible debentures, and preference shares, according to a regulatory filing during market hours.
The proposed amount may be raised in any combination of securities and in one or more tranches of rupee- or foreign currency-denominated securities, according to Godrej Properties.
A major realty developer in the country, Godrej Properties has a dominant presence in an array of markets including the NCR, the MMR, Bengaluru, and Pune.
Godrej Properties has already achieved a nearly four-fold year-on-year jump in its sales bookings to Rs 8,637 crore in the first quarter of FY25.
Godrej Properties shares have rewarded investors with a return of almost 62 per cent so far in 2024, outperforming gains of 18.7 per cent and 40.5 per cent in Nifty50 and Nifty Realty respectively.
Godrej Properties shares 52-week high/all-time high
When was it last recorded and how far is the stock from there now?
As of October 1, the Godrej Properties stock’s 52-week high stood at Rs 3,400—also an all-time high, a level recorded on July 16.
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