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Brigade Enterprises introduces QIP problem to increase funds around Rs 1,500 cr Information on Markets

.Its market capitalisation at Monday's closing rate remained at greater than Rs 28,000 crore Image: Bloomberg2 minutes read Last Upgraded: Sep 03 2024|10:19 AM IST.Bengaluru-based Brigade Enterprises plans to raise up to Rs 1,500 crore through selling equity allotments to institutional investors as portion of its own strategy to extend company.The provider on September 2 introduced its Qualified Institutional Positioning (QIP) concern to raise funds.In a regulatory submitting late on Monday, Brigade Enterprises updated that a board of directors authorized the opening of the QIP Issue on Monday.The panel also approved the floor cost for the QIP issue at Rs 1,164.70 per equity Allotment.The business's allotment price shut at Rs 1,239.80 apiece on the BSE.Its market capitalisation at Monday's closing cost stood at more than Rs 28,000 crore.In March, Brigade Enterprises had actually taken permission from shareholders to increase funds with the issue of protections as much as Rs 1,500 crore.Brigade Enterprises is just one of the leading real estate developers in the nation along with a substantial existence in South India.Last month, Unit Enterprises reported much more than two-fold enter combined web income at Rs 83.72 crore for the June quarter of the existing .Its internet earnings stood at Rs 38.53 crore in the year-ago duration.Complete income rose to Rs 1,113.44 crore during the course of April-June FY25 from Rs 685.43 crore in the matching duration of the previous year.( Only the heading and image of this record may possess been revamped by the Service Standard personnel the remainder of the material is actually auto-generated coming from a syndicated feed.) Very First Published: Sep 03 2024|10:19 AM IST.