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Oberoi Realty going to raise Rs 324 crore through preferential issue

The Board of Oberoi Realty has approved to raise over Rs 324 crore through issuing preferential shares to Aranda Investments which is an indirect subsidiary of Temasek Holdings.

The company said in a regulatory filing that its board has, “approved raising funds by way of issue of up to 1.10 crore equity shares of Rs 10 each of the company…for cash to Aranda Investments (Mauritius) Pte Ltd…on a preferential basis at a price of Rs 295 per equity share aggregating to approximately Rs 3,245 million.” Whereas, the allotment of shares is subject to approvals of the shareholders of the company, it added.

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