Business

Brigade Enterprises launches QIP problem to raise funds up to Rs 1,500 cr Updates on Markets

.Its market capitalisation at Monday's closing price endured at greater than Rs 28,000 crore Image: Bloomberg2 minutes read through Final Upgraded: Sep 03 2024|10:19 AM IST.Bengaluru-based Unit Enterprises considers to increase around Rs 1,500 crore through marketing equity shares to institutional financiers as component of its own approach to expand organization.The provider on September 2 launched its own Qualified Institutional Positioning (QIP) problem to increase funds.In a governing filing behind time on Monday, Unit Enterprises notified that a committee of directors authorized the opening of the QIP Concern on Monday.The panel additionally permitted the floor rate for the QIP issue at Rs 1,164.70 every equity Portion.The company's share price closed at Rs 1,239.80 each on the BSE.Its own market capitalisation at Monday's closing rate stood at more than Rs 28,000 crore.In March, Unit Enterprises had taken authorization coming from shareholders to elevate funds via the concern of safety and securities approximately Rs 1,500 crore.Brigade Enterprises is just one of the leading real estate designers in the country along with a significant presence in South India.Final month, Unit Enterprises disclosed much more than two-fold enter consolidated web revenue at Rs 83.72 crore for the June one-fourth of the current fiscal year.Its web revenue stood up at Rs 38.53 crore in the year-ago time frame.Complete earnings cheered Rs 1,113.44 crore during April-June FY25 coming from Rs 685.43 crore in the equivalent time frame of the previous year.( Only the heading and picture of this file might possess been reworked by the Service Specification staff the rest of the content is auto-generated coming from a syndicated feed.) Initial Released: Sep 03 2024|10:19 AM IST.