DB Realty has successfully raised approximately Rs 1,544 crore through the issuance of 25,75,00,000 convertible warrants in two phases/rounds in February and March 2022. This capital infusion aims to strengthen the company’s financial position and reduce its consolidated debt, in line with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The allotment of equity shares resulting from the conversion of these warrants was as follows:
- Promoter Group entities, including Goenka Family Trust and SB Fortune Realty Pvt Ltd, received a significant portion of equity shares.
- Other investors such as Pinnacle Investments, Rekha Jhunjhunwala, RARE Investments, Abhay Chandak, and Aditya Chandak also received allocations of equity shares.
DB Realty has stated that the funds raised through these convertible warrants will be used for multiple purposes, including reducing debt by Rs 1404 crore, making further investments or acquiring new assets, and meeting various financial requirements for ongoing projects and working capital needs.
Over the past year, DB Realty has actively engaged in partnerships, joint ventures, and arrangements with prominent real estate developers such as Adani Good Homes Private Limited, Godrej Residency Private Limited, and entities within the Prestige Group. These collaborations are part of the company’s strategy to leverage its substantial real estate holdings, which exceed 600 acres, and work towards becoming debt-free in the near future. DB Realty continues to explore opportunities for collaboration with established real estate developers to unlock the value of its real estate assets.
