|
D B Realty announced that the company had raised Rs 1544 crore by way of preferential issue of 25,75,00,000 convertible warrants to promoter group / non promoter group in two phases / rounds in the month of February and March 2022.
These funds have been utilised for debt reduction (including release of contingent liabilities) of Rs 1404 crore and further investments/acquisition of new assets and to meet various requirements of its ongoing projects and working capital of the Company.
In the last 1 year, the Company has entered into partnership/Joint venture/arrangements with large real estate developers such as Adani Good Homes, Godrej Residency, Prestige Group entities.
The Company is focused to be debt free in the near term and is continuously exploring avenues to partner with established large real estate developers to monetize its significant real estate holdings in excess of 600 acres.
|