Cyril Amarchand Mangaldas Advises Godrej Properties On Rs 6,000 Crore Equity Capital Issuance

Cyril Amarchand Mangaldas (CAM) acted as the legal advisor to Godrej Properties  (GPL) on its equity share issuance aggregating up to Rs 6,000 crore through a qualified institutions placement (QIP). This strategic fundraising initiative was conducted in compliance with Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Section 42 of the Companies Act, 2013.

The QIP was launched on 27 November 2024 and received an overwhelming response, with the issue being nearly four times oversubscribed. The process concluded with the allotment of equity shares on 2 December 2024. This marks a significant milestone for GPL, which stands as India’s leading residential real estate development company in terms of booking value for the financial year 2024, with a core focus on residential projects.

CAM provided extensive legal support throughout the transaction. The team was led by Yash Ashar, Senior Partner, and Devaki Mankad, Partner & Regional Co-Head - Capital Markets - West. They were supported by Rishav Buxi, Senior Associate; Urmil Shah, Associate; Hitesh Nagpal, Associate; and Gaurav Lalwani, Associate.

The transaction also saw the participation of leading financial institutions. Kotak Mahindra Capital Company , BofA Securities India, Jefferies India , and Morgan Stanley India Company   acted as Book Running Lead Managers for the issue.

This landmark transaction reflects the robust investor confidence in GPL’s market position and growth prospects. It also underscores CAM’s proficiency in guiding high-value capital market transactions, consolidating its reputation as one of India’s premier legal advisory firms.