Indian property developer Godrej Properties Ltd. completed the issuance of 12,765,000 equity shares at 783.50 rupees apiece to Gamnat Pte. Ltd., an affiliate of Singaporean sovereign wealth fund GIC.
The company raised a total of 10 billion rupees from the preferential issuance.
Godrej previously said it plans to use the proceeds to grow its business in India's largest real estate markets of Mumbai, National Capital Region, Bangalore and Pune.
As of June 7, US$1 was equivalent to 67.36 rupees.
