Puravankara's board approved a ₹1,000 crore QIP fundraising and a ₹90 crore term loan for its subsidiary.
Puravankara's shares rose 2% after its board approved a fundraising of up to ₹1,000 crore via the QIP method. The funds will be raised through equity shares, debentures, or preference shares. Additionally, the board approved providing a corporate guarantee for Piramal Enterprises to secure a ₹90 crore term loan for Provident Housing Ltd, its wholly-owned subsidiary, to finance a land acquisition in Dabolim, Goa.
June 14, 2024
4 Articles