Brigade Enterprises Eyes ₹750 Crore Fundraise
Bangalore-based Brigade Enterprises, a prominent player in the real estate sector, is set to embark on a significant fund-raising endeavor. The company intends to garner an additional ₹750 crore through strategic financial instruments.
Fund-Raising Instruments
To achieve this objective, Brigade Enterprises will leverage a combination of financial tools, including:
- Foreign Currency Convertible Bonds (FCCBs)
- American Depository Receipts (ADRs)
- Global Depository Receipts (GDRs)
- Placement with Qualified Institutional Investors
Utilization of Funds
Following a shareholder meeting, the company outlined the key purposes for which the raised funds will be allocated:
- Acquisition of Land
- Infrastructure Costs for both current and upcoming projects
- Clearance of Debts
- Investment Opportunities
- Augmentation of Working Capital
- General Corporate Purposes
Expansion of Market Presence
Originally focused on developing Residential Units in South India, Brigade Enterprises is now seeking shareholder approval to list its stock on major international exchanges, including:
- Luxembourg Stock Exchange
- London Stock Exchange
- New York Stock Exchange
- Singapore Stock Exchange
Market Performance
On Thursday, the shares of Brigade Enterprises closed at 1.07% higher, reaching ₹137.35.