New Delhi: Oberoi Realty said on Monday that it has raised over Rs 324 crore through preferential issue of shares to Aranda Investments, an indirect subsidiary of Temasek Holdings.
Mauritius-based Aranda Investments is a foreign portfolio investor and a wholly-owned indirect subsidiary of Temasek Holdings, the investment arm of the Singapore government.
"...approved the allotment of 1,10,00,000 equity shares to Aranda Investments (Mauritius) Pte Ltd at a price of Rs 295 per equity share, including a premium of Rs 285 per equity share, aggregating to Rs 3,245 million," Oberoi Realty said in a filing to the BSE.
Last month, the company's board had approved the allotment of shares to Aranda Investments.
The company has reported a 24 per cent increase in consolidated net profit at Rs 79.57 crore for the first quarter of 2015-16 as against Rs 64.33 crore in the corresponding period a year ago.
Total income of the company rose to Rs 215.78 crore during the first quarter of 2015-16 from Rs 181.85 crore in the corresponding period of the previous year.
The Mumbai-based real estate player has developed over 36 projects aggregating about 6.5 million square feet of space.
Another 24 million square feet of projects are in various stages of development.