Godrej Properties has released a monitoring agency report concerning the utilization of funds raised through a Qualified Institutional Placement (QIP). The report, issued by ICRA Limited, confirms that the issuance proceeds are in line with the stated objectives as of September 30, 2025. No material deviations were noted, and the funds are being utilized for the intended purposes, including land acquisition and general corporate activities.
QIP Proceeds Utilization
Godrej Properties confirms the proper utilization of proceeds from its Qualified Institutional Placement (QIP) based on a monitoring report by ICRA Limited. The report covers the period ending September 30, 2025.
Key Highlights from the Monitoring Report
ICRA’s assessment indicates that the utilization of funds is aligned with the objectives outlined in the issuance documents. Specifically:
- No deviations were observed in the allocation of funds.
- Proceeds were primarily allocated for land acquisition/land development rights (₹5,300.00 Crore) and general corporate purposes (₹621.00 Crore).
Detailed Allocation
The breakdown of utilized and unutilized funds as of the end of Q2 2025 is as follows:
- Acquisition of land/land development rights: ₹4,224.836 Crore utilized out of ₹5,300.00 Crore allocated.
- General corporate purposes: ₹0 utilized out of ₹621.00 Crore allocated.
Deployment of Unutilized Proceeds
Unutilized funds have been deployed in various instruments with their respective earnings and market values as of the end of the quarter:
- Aditya Birla Sun Life Liquid Fund: ₹14.999 Crore, earning ₹0.831 Crore, market value ₹15.830 Crore
- Tata Treasury Advantage Fund: ₹74.996 Crore, earning ₹4.585 Crore, market value ₹79.581 Crore
- UTI Low Duration Fund: ₹74.996 Crore, earning ₹4.799 Crore, market value ₹79.795 Crore
- And more.
The total market value of deployed unutilized proceeds as of September 30, 2025, is ₹1907.706 Crore, including booked profits.
Source: BSE
