Stock in Focus: Oberoi Realty approves ₹6,000 crore fundraising plan

Oberoi Realty’s board of directors has approved a plan to raise up to ₹6,000 crore through equity shares or other financial instruments.

The capital will be raised through multiple tranches, including private placements and qualified institutional placements (QIP). This fundraising initiative comes as the company continues to expand its real estate portfolio, positioning itself for future growth.

Oberoi Realty Ltd. has received approval from its board of directors to raise up to ₹6,000 crore in one or more tranches. According to an exchange filing made on Thursday, the funds will be raised through “issuance of equity shares, eligible securities, or other instruments” via private placement, including a qualified institutional placement (QIP).

The company also mentioned that the funds could be raised using “other permissible modes or combinations of modes.” However, the specific purpose for the fundraising was not disclosed in the exchange filing.

This decision follows Oberoi Realty’s earlier success in obtaining approval for its resolution plan for the bankrupt Nirmal Lifestyle Realty from the National Company Law Tribunal, around two months ago.

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