Godrej Properties plans to raise up to Rs 4,000 crore through a Qualified Institutional Placement (QIP) at an indicative price of Rs 2,595 per share. The company has set a floor price of Rs 2,727.44 per share for the QIP, which aims to sell 5.5% equity, equivalent to approximately 1.54 crore shares.

The decision to raise capital through a QIP follows the approval of a broader capital-raising strategy by the board of Godrej Properties last month. The company aims to collect up to Rs 6,000 crore through various financial instruments. The indicative price for the QIP represents a 5% discount to the floor price, indicating the company's strategic approach to attract institutional investors in the current market conditions.

The QIP will involve the sale of approximately 1.54 crore shares, which is equivalent to 5.5% of the company's equity. The floor price for the QIP has been set at Rs 2,727.44 per share, while the indicative price is Rs 2,595 per share, representing a 5% discount. This capital-raising strategy is part of Godrej Properties' broader plan to raise up to Rs 6,000 crore through various financial instruments.