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Godrej Properties Ltd. Announces Allotment of Non-Convertible Debentures

Godrej Properties Limited has announced the allotment of two series of Rated Listed Unsecured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis, aggregating to Rs. 1275.4 crores. This significant financial move was approved by the Allotment Committee of the Board of Directors on July 26, 2024.

Allotment of Non-Convertible Debentures

Details of Allotment

On July 26, 2024, Godrej Properties Limited approved the allotment of two series of Rated Listed Unsecured Redeemable Non-Convertible Debentures (NCDs):

• Series 1 Debentures: 93,540 NCDs of face value Rs. 1,00,000 each, totaling Rs. 935.4 crores.
• Series 2 Debentures: 34,000 NCDs of face value Rs. 1,00,000 each, totaling Rs. 340 crores.

Terms of the Debentures

Series 1 Debentures

• Issuer: Godrej Properties Limited
• Listing: Wholesale Debt Market Segment of BSE Limited
• Face Value: Rs. 1,00,000 each
• Issuance: Private Placement
• Issue Size: Rs. 1000 crores (Base Issue: Rs. 500 crores, Green Shoe Option: Rs. 500 crores)
• Tenor and Maturity: Three years & six months, maturing on January 25, 2028
• Coupon/Interest: Fixed-rate coupon of 8.40% p.a., paid annually and on maturity
• Principal Payment: Bullet repayment at the end of the maturity period
• Security: Unsecured
• Rating: "[ICRA] AA+ (Stable)” by ICRA Limited, ‘IND AA+/Stable’ by India Ratings & Research Private Ltd

Series 2 Debentures

• Issuer: Godrej Properties Limited
• Listing: Wholesale Debt Market Segment of BSE Limited
• Face Value: Rs. 1,00,000 each
• Issuance: Private Placement
• Issue Size: Rs. 340 crores (Base Issue: Rs. 100 crores, Green Shoe Option: Rs. 240 crores)
• Tenor and Maturity: Five years, maturing on July 26, 2029
• Coupon/Interest: Fixed-rate coupon of 8.55% p.a., paid annually and on maturity
• Principal Payment: Bullet repayment at the end of the maturity period
• Security: Unsecured
• Rating: "[ICRA] AA+ (Stable)” by ICRA Limited, ‘IND AA+/Stable’ by India Ratings & Research Private Ltd

Compliance and Notification

In compliance with Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Godrej Properties Limited has duly informed the stock exchanges and requested the dissemination of this information to all concerned stakeholders.

Company Communication

Godrej Properties Limited has officially communicated this update to BSE Limited and the National Stock Exchange of India Limited. The announcement was made by Ashish Karyekar, the Company Secretary of Godrej Properties Limited.

Key Points:

• Allotment Date: 26th July 2024
• Series 1 Debentures: Rs. 935.4 crores
• Series 2 Debentures: Rs. 340 crores
• Regulatory Compliance: SEBI Listing Regulations, Regulations 30 and 51

External Links:

For further details, visit the official Godrej Properties Limited website.