DB Realty raises Rs 920 crore via qualified institutional placement, ET RealEstate

March 15, 2024
1 min read
DB Realty raises Rs 920 crore via qualified institutional placement, ET RealEstate


108510895

NEW DELHI: DB Realty has raised Rs 920 crore by selling shares to institutional investors via qualified institutional placement (QIP).

The board of directors of the company approved the issue and allotment of 3,56,66,675 equity shares to qualified institutional buyers at the issue price of Rs 258 per equity share (including a premium of Rs 248 per equity share which is at a discount of Rs 12.87 per equity share equivalent to 4.75%) to the floor price of Rs 270.87 per equity share aggregating to Rs 920 crore.

The issue opened on March 7, 2024 and closed on March 13, 2024.

Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stands increased from Rs 502,12,27,030 consisting of 50,21,22,703 equity shares to Rs 537,78,93,780 consisting of 53,77,89,378 equity shares.

Morgan Stanley Asia (Singapore) has been allotted 4,466,774 shares which is 12.52% to total issue size, Reliance Commercial Finance has been allotted 4,277,959 shares (11.99%), Bofa Securities Europe SA has been allotted 3,529,314 shares (9.90%), Societe Generale has been allotted 2,995,264 shares, among others.

In less than two years, the company has completed three equity raises of about Rs 2,470 crore. Consequently, the consolidated net worth of the company is now more than Rs 5,000 crore nearly a threefold increase in less than two years, it said in a media release.

The board also approved incorporation of Advent International, a wholly-owned subsidiary, to acquire the company’s interests in the hospitality business through an NCLT scheme of arrangement (demerger) process. Ernst and Young LLP (EY) has been appointed to advise the board on the demerger process.

  • Published On Mar 15, 2024 at 09:43 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App
realty barcode



Source link

curationteam

Curation Team will curate content from different sources and present for you. We will not edit any content. Source link is provided for the source from where its received .

Leave a Reply

Your email address will not be published.

Exclusive: Bengaluru Extends 5% Property Tax Rebate Till July
Previous Story

Exclusive: Bengaluru Extends 5% Property Tax Rebate Till July

Urban Development in Uttar Pradesh, ET RealEstate
Next Story

Urban Development in Uttar Pradesh, ET RealEstate

Latest from Blog