Printer Friendly

Godrej Properties shares gain on $275-mn real estate fund deal.

Mumbai: Shares of realty firm Godrej Properties Ltd (GPL) gained over 2 per cent today after the company announced setting up of a real estate fund, which has raised USD 275 million, with Dutch pension fund APG as the lead investor.

The stocks surged 2.09 per cent to Rs 293.80 on BSE.

At NSE too, shares of the company jumped 2.09 percent to Rs 293.90.

GPL, the real estate arm of the Godrej group, yesterday said it has "created a dedicated real estate funds management business in India and Singapore -- Godrej Fund Management (GFM)".

"GFM has raised a USD 275 million (Rs 19 billion) pool of capital, Godrej Residential Investment Program II (GRIP II), with Dutch pension fund asset manager APG Asset Management NV (APG) as the lead investor," it had said.

The fund will invest in residential projects in India

COPYRIGHT 2016 Plus Media Solutions
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:9INDI
Date:Mar 23, 2016
Words:145
Previous Article:SMEs raise Rs 287-cr through IPOs during Apr-Jan FY'16.
Next Article:Fund-raising via rights issue doubles to Rs 8,785 crore.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters