Lodha raises ₹3,300 cr equity via QIP; Blackrock, APG, Invesco Oppenheimer among investors
The real estate major has raised over ₹13,000 crore of capital in the last 36 months.
The real estate major has raised over ₹13,000 crore of capital in the last 36 months.
Investors are showing interest in credit-based financial companies with strong profitability indicators, but they are still hesitant to make new investments until they gain more confidence.
Cholamandalam Investment shares opened 2% higher at ₹1,245, but soon lost momentum and dropped over 1% to hit a low of ₹1202.90 on the BSE.
The real estate investment trust will use proceeds to fund the acquisition of 50% stake in two large commercial assets.
Investors who have been allotted over 5% equity shares are MIT (23.75%), Quant’s Multi-Asset Fund (12.75%) and Value Fund (6.75%), Carnelian Structural Shift Fund (6.25%) and Societe Generale (6%)
Economic Survey 2022: This is the first time ever that more than ₹1 lakh crore has been raised in any financial year through equity issues via various modes such as IPO, rights, and QIP.
The pandemic, ultimately, was unsuccessful in denting the country's capital raising confidence, as India Inc. raised over ₹1.88 lakh crore, beating the record of over ₹1.75 lakh crore raised in FY18.
At ₹98,213 crore, total fund raising in 2019 fell short by over 41% as compared to 2017’s ₹1,66,544 crore; equity was short by 49% while public bonds issuance grew 161.7% from 2017.