Godrej Properties QIP Issue : Shares of Godrej Properties jumped 1.02% to Rs 2861.90 on the BSE on Thursday at around 10 am. The company on Wednesday launched its qualified institutional placement (QIP) to raise up to Rs 6,000 crore by selling equity shares to investors, which will support its growth plans. Last month, the company's board approved the issuance of securities to raise Rs 6000 crore. In a regulatory filing, Godrej Properties announced that the QIP placement committee has approved the opening of the issue on November 27, 2024.

What is the floor price (Godrej Properties QIP Floor Price)

The QIP Placement Committee has fixed the floor price for the QIP at Rs 2,727.44 per equity share, which is a discount of about 4.7 percent to the current price (Rs 2861.90). Along with the launch of the QIP, the company also announced that it has acquired 53 acres of land in Joka, Kolkata.

What is QIP

A qualified institutional placement (QIP) is a way for companies to raise funds by selling shares or other securities to large investors, known as qualified institutional buyers (QIBs). QIPs are a way for companies to raise funds quickly, and are often cheaper than other methods. But only QIBs, who are accredited investors, can buy QIPs.