Hotline: 1800 102 2007
X
Search Business Opportunities
May, 04 2018

GIC to acquire $150-mn stake in Godrej Properties in a rare deal

Godrej Properties will raise a tad more than Rs 1,000 crore ($150 million) by issuing preferential shares to Ganmat Pte Ltd.

An investment firm managed by Singapore sovereign wealth fund GIC Pte. Ltd has announced to pick up a stake in Mumbai-based developer Godrej Properties Ltd in a rare entity-level transaction in India’s real estate sector.

Godrej Properties will raise a tad more than Rs 1,000 crore ($150 million) by issuing preferential shares to Ganmat Pte Ltd, the Mumbai developer said in a stock-exchange filing.

The company will issue 12.76 million shares to Ganmat at Rs 783.5 apiece, it said.

This translates to a stake of about 5.5% in Godrej Properties, as per the estimation.

Comment
image
Related opportunities
  • Ice creams & Yogurt Parlors
    About Us: Nirula's is India's oldest fast food restaurant chain. Based..
    Locations looking for expansion Delhi
    Establishment year 1950
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Automobile maintanance related
    About Us: Since 1968 Koch-Chemie has stood for high-quality cleaning and..
    Locations looking for expansion Maharashtra
    Establishment year 2008
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Car wash / Ceramic Coating / Detailing
    About Us: Across the globe, 3M is inspiring innovation and igniting..
    Locations looking for expansion Delhi
    Establishment year 1950
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Car wash / Ceramic Coating / Detailing
    About Us: WASH4SURE is Brand Name of Pragun Services Pvt. Ltd. ..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 50 K - 2lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater pune Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities