GPL Monitoring Agency Report: QIP Proceeds Utilization

Godrej Properties Limited (GPL) has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by ICRA Limited, confirms that the utilization of proceeds from the Qualified Institutional Placement (QIP) is in line with the objects of the issue, with no material deviation. The QIP, which opened on November 27, 2024, and closed on December 02, 2024, raised approximately ₹6,000 Crore. The actual net proceeds were ₹5,921.00 Crore, slightly higher than initially estimated due to lower-than-expected issue-related expenses.