Godrej Properties Ltd Share Price – NSE /  BSE

Realty, Mid Cap

Nuvama Wealth Management Ltd, Tata Teleservices (Maharashtra) Ltd, Gland Pharma Ltd, Jubilant Foodworks Ltd are among the other stocks to see a surge in volumes on BSE today, 12 December 2024.

Godrej Properties Ltd saw volume of 32.37 lakh shares by 10:46 IST on BSE, a 158.88 fold spurt over two-week average daily volume of 20375 shares. The stock dropped 1.36% to Rs.2,871.70. Volumes stood at 11508 shares in the last session.

Nuvama Wealth Management Ltd notched up volume of 4.37 lakh shares by 10:46 IST on BSE, a 61.54 fold spurt over two-week average daily volume of 7106 shares. The stock slipped 5.72% to Rs.6,879.95. Volumes stood at 15220 shares in the last session.

Tata Teleservices (Maharashtra) Ltd witnessed volume of 32.91 lakh shares by 10:46 IST on BSE, a 5.62 times surge over two-week average daily volume of 5.86 lakh shares. The stock increased 8.79% to Rs.87.98. Volumes stood at 3.86 lakh shares in the last session.

Gland Pharma Ltd clocked volume of 25919 shares by 10:46 IST on BSE, a 4.33 times surge over two-week average daily volume of 5991 shares. The stock gained 1.66% to Rs.1,804.75. Volumes stood at 4592 shares in the last session.

Jubilant Foodworks Ltd notched up volume of 91473 shares by 10:46 IST on BSE, a 3.53 fold spurt over two-week average daily volume of 25912 shares. The stock slipped 3.69% to Rs.682.50. Volumes stood at 29990 shares in the last session.

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Godrej Properties Ltd rose 2.18% today to trade at Rs 2903.95. The BSE Realty index is up 0.88% to quote at 8481.05. The index is up 12.27 % over last one month. Among the other constituents of the index, Macrotech Developers Ltd increased 1.67% and Prestige Estates Projects Ltd added 0.75% on the day. The BSE Realty index went up 43.57 % over last one year compared to the 16.66% surge in benchmark SENSEX.

Godrej Properties Ltd has added 8.17% over last one month compared to 12.27% gain in BSE Realty index and 2.63% rise in the SENSEX. On the BSE, 1572 shares were traded in the counter so far compared with average daily volumes of 31430 shares in the past one month. The stock hit a record high of Rs 3400 on 16 Jul 2024. The stock hit a 52-week low of Rs 1863.5 on 21 Dec 2023.

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Godrej Properties announced that it has raised Rs 6,000 crore through the QIP route.

The issue saw a strong demand of ~4X the size of the QIP and was fully covered with long only demand. The issue also had a healthy mix of leading international and domestic investors including GIC, Blackrock, Aberdeen, Norges Bank, SBI Pension, and ICICI Prudential life Insurance.

As a result of the QIP, GPL's Net Worth has increased by more than 50% while the equity dilution was 7.68%. GPL's gearing ratio will come down to below 0.2:1 from 0.7:1 as of 30 September 2024.

With bookings growth of 56% in FY23, 84% in FY24 and 90% in H1 FY25, GPL has achieved a tremendous growth trajectory in recent years and is well positioned to substantially surpass its FY24 booking value guidance of 27K crore.

GPL intends to use the net proceeds received from this issue to build a project pipeline that allows it to scale the business rapidly in the years ahead. GPL has already surpassed its business development guidance for FY25 of Rs 20,000 crore of estimated booking value in the first 7 months of the year and continues to have strong visibility for rest of the year.

Godrej Properties was the largest real estate developer in India by bookings in FY25 and the fastest growing large business in India across sectors in FY24 with sales growth of 84%.

 Jeffries, Morgan Stanley, Bank of America, and Kotak were the bankers for the QIP.

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Godrej Properties has approved the allotment of 2,31,21,387 equity shares to the eligible qualified institutional buyers at an issue price of Rs 2,595 per equity share (including a premium of Rs 2,590 per equity share) which includes a discount of Rs 132.44 per equity share (4.86% of the floor price) against the floor price of Rs 2,727.44 per equity share aggregating to Rs 6,000 crore.

Pursuant to the allotment, the paid up equity share capital stands increased from Rs 139.03 crore, comprising of 27,80,62,112 equity shares to Rs 150.59 crore, comprising of 30,11,83,499 equity shares.

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