Cyril Amarchand Mangaldas, Trilegal and Sidley Austin have acted on Godrej Properties’ qualified institutional placement (QIP) of equity shares raising INR60 billion (USD722.89 million).
The CAM transaction team included senior partner Yash Ashar, as well as partner and regional co-head of capital markets west, Devaki Mankad. Senior associate Rishav Buxi, and associates Urmil Shah, Hitesh Nagpal and Gaurav Lalwani assisted the team.
Trilegal advised the book running lead managers Kotak Mahindra Capital, BofA Securities India, Jefferies India and Morgan Stanley India. Partners Bhakta Patnaik and Brajendu Bhaskar led the team with support from senior associate Aditya Dsouza, and associates Akanksha Goel, Pratyusha Dasgupta, Kavya Krishnaswamy and Manasi Barve.
Sidley Austin acted as international legal counsel to the book running lead managers.
The QIP was conducted in accordance with chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and section 42 of the Companies Act, 2013.
The QIP was issued on 27 November 2024 and closed on 2 December 2024, receiving nearly four times the subscription. The allotment was completed on 2 December 2024. Godrej Properties is a leading residential real estate development company in India, focusing on residential projects and has achieved the highest booking value for the 2024 financial year.
