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The board of Godrej Properties on Tuesday announced opening of the qualified institutional placement (QIP) and fixed the floor price of the issue at ₹928 a share. Earlier, the company had received shareholders’ approval to raise an amount not exceeding ₹2,500 crore in one or more tranches, by issuance of securities through public issue or private placement or through any other permissible mode. The board will meet again on June 28 to fix the QIP price.
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