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Godrej Properties IPO | Godrej Properties Public Issue | Godrej Properties Issue | Godrej Properties IPO in 3 months: Adi Godrej

Posted on: September 11, 2009 at 6:39 pm | 411 views




Godrej Properties IPO | Godrej Properties Public Issue | Godrej Properties Issue | Godrej Properties IPO in 3 months: Adi Godrej

Chairman of Godrej group, Adi Godrej said on Godrej Properties (GPL) Initial Public Offering (IPO) would be launched in within next 3 months. The market regulator SEBI (Securities & Exchange Board of India) has cleared GPL’s draft red herring prospectus (DRHP), reports CNBC-TV18.

As per the DRHP filed in 2008, IPO proceeds will be used for acquisition of land development rights for forthcoming projects, construction of forthcoming projects and repayment of loans.

ICICI Securities and Kotak Mahindra are bankers to the issue. Godrej Industries currently holds 80.3% in GPL.

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