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Godrej Properties To Raise Rs 500-600 Crore To Reduce Debt

Godrej Properties Ltd, the real estate arm of the Godrej Group, plans to raise Rs 500-600 crore through the institutional placement programme (IPP) soon to reduce its debt burden and is also looking at private equity investors, a senior company official said. Speaking to reporters here, Executive Director Mr Pirojsha Godrej said: "The Company is planning to raise Rs.500-600 crore from IPP this quarter or next. This will reduce our debt which is currently at Rs.2, 000 crore."

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05 Mar 2012

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