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Brigade Enterprises introduces QIP issue to raise funds around Rs 1,500 cr News on Markets

.Its own market capitalisation at Monday's closing price stood at more than Rs 28,000 crore Picture: Bloomberg2 min read through Final Upgraded: Sep 03 2024|10:19 AM IST.Bengaluru-based Brigade Enterprises intends to elevate approximately Rs 1,500 crore by offering equity portions to institutional real estate investors as aspect of its technique to grow business.The firm on September 2 launched its Qualified Institutional Positioning (QIP) concern to increase funds.In a regulative submission behind time on Monday, Unit Enterprises updated that a board of directors authorized the position of the QIP Issue on Monday.The panel also permitted the flooring cost for the QIP concern at Rs 1,164.70 every equity Allotment.The provider's allotment price finalized at Rs 1,239.80 apiece on the BSE.Its market capitalisation at Monday's closing price stood at more than Rs 28,000 crore.In March, Brigade Enterprises had taken permission coming from shareholders to elevate funds through the issue of securities as much as Rs 1,500 crore.Brigade Enterprises is among the leading realty designers in the country along with a considerable presence in South India.Last month, Brigade Enterprises disclosed more than two-fold enter combined web revenue at Rs 83.72 crore for the June fourth of the existing fiscal year.Its internet profit stood at Rs 38.53 crore in the year-ago time frame.Complete revenue cheered Rs 1,113.44 crore during April-June FY25 from Rs 685.43 crore in the equivalent time frame of the previous year.( Only the headline and picture of this file may possess been actually modified due to the Organization Specification workers the rest of the web content is auto-generated coming from a syndicated feed.) Very First Posted: Sep 03 2024|10:19 AM IST.