Oberoi Realty Board Approves Plan To Raise Rs 6,000 Cr

The Mumbai-based Oberoi Realty's board approved a proposal to raise up to Rs 6,000 crore. The company plans to raise funds through equity shares, eligible securities, and other securities.

The proposed funds will be raised in one or more tranches “by way of private placement, including a qualified institutional placement, or through any other permissible mode or combination of modes as may be considered appropriate," the company said in an exchange filing.

“This is to inform you that the Board of Directors of the Company, at their meeting held on October 10, 2024, has considered and approved the proposal for enabling the raising of funds for an aggregate amount not exceeding Rs 6,000 crore (Rupees Six Thousand Crore only) by way of issuance of equity shares, eligible securities, other securities or instruments or any combination of securities, in one or more tranche or tranches,” it added.