The floor price of Rs 2,727.44 is at a discount of 3.73% to the previous day's closing price of Rs 2,833.05 on the BSE.
The company stated that it may offer a discount of not more than 5% on the floor price so calculated for the issue.
The issue price will be determined by the company in consultation with the bookrunning lead manager appointed for the issue.
Godrej Properties is the real estate arm of the Godrej Group. It is a subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as of 30 September 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.
The company’s consolidated net profit soared to Rs 335.21 crore in Q2 FY25 as against Rs 66.80 crore posted in Q2 FY24. Revenue from operations zoomed to Rs 1,093.23 crore in the quarter ended 30 September 2024 as compared to Rs 343 crore reported in the corresponding quarter previous year.
Shares of Godrej Properties shed 0.85% to Rs 2,809.10 on the BSE.