Brigade Enterprises Ltd.'s board of directors approved on Monday issuance of non-convertible debentures worth up to Rs 1,500 crore.
The real estate developer will raise the funds through one or more tranches on a private placement basis, subject to all regulatory/statutory approvals. The debentures may be listed which will be determined by board/committee of directors at the time of allotment, according to an exchange filing.
In May, Brigade Enterprises announced its expansion into the Chennai market through a project on land that it spent Rs 441.7 crore to acquire. The project is taking shape on a land parcel that's spread across 5.41 acres in Velachery Road.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Shares of Brigade Enterprises closed 2.06% higher at Rs 1,084.9 apiece on the National Stock Exchange before the announcement, compared to a 0.03% rise in the benchmark Nifty. The share price has fallen 13.88% in the last 12 months and 12.72% on a year-to-date basis.
Out of the 13 analysts tracking the company, 12 have a 'buy' rating on the stock and one recommends 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 27.5%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
