GODREJ PROPERTIES LIMITED - Kotak Investment · PDF fileDraft Letter of Offer Dated June 5,...

Click here to load reader

  • date post

    11-Apr-2018
  • Category

    Documents

  • view

    219
  • download

    3

Embed Size (px)

Transcript of GODREJ PROPERTIES LIMITED - Kotak Investment · PDF fileDraft Letter of Offer Dated June 5,...

  • Draft Letter of Offer

    Dated June 5, 2013 For Equity Shareholders of the Company only

    GODREJ PROPERTIES LIMITED

    Godrej Properties Limited was incorporated on February 8, 1985 in the Republic of India with limited liability under the Companies Act, 1956.

    For details of change in our name and registered office, see the section General Information on page 41.

    Registered and Corporate Office: Godrej Bhavan, 4th Floor, 4A, Home Street, Fort, Mumbai 400 001

    Contact Person: Shodhan A. Kembhavi, Company Secretary and Compliance Officer

    Tel: (91 22) 6651 0200; Fax: (91 22) 2207 2044; Email: secretarial@godrejproperties.com; Website: www.godrejproperties.com

    Promoters of our Company: Godrej & Boyce Manufacturing Company Limited and Godrej Industries Limited

    FOR PRIVATE CIRCULATION TO THE EQUITY SHAREHOLDERS OF

    GODREJ PROPERTIES LIMITED (THE COMPANY OR THE ISSUER) ONLY

    ISSUE OF [] EQUITY SHARES OF FACE VALUE OF ` 10 EACH OF OUR COMPANY (THE EQUITY SHARES) FOR CASH

    AT A PRICE OF ` [] PER EQUITY SHARE (INCLUDING A PREMIUM OF ` [] PER EQUITY SHARE) FOR AN AMOUNT NOT

    EXCEEDING ` 7,000 MILLION ON A RIGHTS BASIS TO THE EXISTING EQUITY SHAREHOLDERS OF OUR COMPANY IN

    THE RATIO OF [] EQUITY SHARES FOR EVERY [] FULLY PAID-UP EQUITY SHARES HELD BY THE EXISTING EQUITY

    SHAREHOLDERS ON THE RECORD DATE, THAT IS ON [] (THE ISSUE). THE ISSUE PRICE IS [] TIMES THE FACE

    VALUE OF THE EQUITY SHARES. FOR FURTHER DETAILS, SEE THE SECTION TERMS OF THE ISSUE ON PAGE 199.

    GENERAL RISKS

    Investments in equity and equity related securities involve a degree of risk and Investors should not invest any funds in the Issue unless they can

    afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in

    the Issue. For taking an investment decision, investors must rely on their own examination of our Company and the Issue including the risks involved. The securities being offered in the Issue have not been recommended or approved by Securities and Exchange Board of India (SEBI)

    nor does SEBI guarantee the accuracy or adequacy of this Draft Letter of Offer. Investors are advised to refer to the section Risk Factors on

    page 9 before making an investment in this Issue.

    ISSUERS ABSOLUTE RESPONSIBILITY

    Our Company, having made all reasonable inquiries, accepts responsibility for and confirms that this Draft Letter of Offer contains all

    information with regard to our Company and the Issue, which is material in the context of the Issue, that the information contained in this Draft

    Letter of Offer is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Draft Letter of Offer as a whole or any such

    information or the expression of any such opinions or intentions misleading in any material respect.

    LISTING

    The existing Equity Shares of our Company are listed on BSE Limited (BSE) and The National Stock Exchange of India Limited (NSE)

    (collectively, the Stock Exchanges). Our Company has received in-principle approvals from the BSE and the NSE for listing the Equity

    Shares to be allotted in the Issue vide their letters dated [] and [], respectively. For the purposes of the Issue, the Designated Stock Exchange is

    [].

    LEAD MANAGER TO THE ISSUE REGISTRAR TO THE ISSUE

    Kotak Mahindra Capital Company Limited

    1st Floor, Bakhtawar

    229 Nariman Point Mumbai 400 021

    Tel: (91 22) 6634 1100

    Fax: (91 22) 2283 7517 Email: gpl.rights@kotak.com

    Investor Grievance Email: kmccredressal@kotak.com

    Website: www.investmentbank.kotak.com Contact Person: Ganesh Rane

    SEBI Registration No.: INM000008704

    Karvy Computershare Private Limited

    Plot No. 17-24, Vithalrao Nagar

    Madhapur, Hyderabad 500 081 Tel: (91 40) 4465 5000

    Fax: (91 40) 2343 1551

    E-mail: gpl.rights@karvy.com Investor Grievance Email: einward.ris@karvy.com

    Website: www.karisma.karvy.com

    Contact Person: M. Muralikrishna SEBI Registration No.: INR000000221

    ISSUE PROGRAMME

    ISSUE OPENS ON LAST DATE FOR REQUEST FOR SPLIT

    APPLICATION FORMS

    ISSUE CLOSES ON

    [] [] []

  • TABLE OF CONTENTS

    SECTION I GENERAL ........................................................................................................................................... 1

    DEFINITIONS AND ABBREVIATIONS ................................................................................................................ 1 NOTICE TO OVERSEAS INVESTORS .................................................................................................................. 5 PRESENTATION OF FINANCIAL INFORMATION............................................................................................. 6 FORWARD LOOKING STATEMENTS ................................................................................................................. 7

    SECTION II: RISK FACTORS ................................................................................................................................. 9

    SECTION III: INTRODUCTION ........................................................................................................................... 30

    THE ISSUE ............................................................................................................................................................. 30 SUMMARY FINANCIAL INFORMATION ......................................................................................................... 31 GENERAL INFORMATION .................................................................................................................................. 41 CAPITAL STRUCTURE ........................................................................................................................................ 45 OBJECTS OF THE ISSUE ...................................................................................................................................... 50 STATEMENT OF SPECIAL TAX BENEFITS AVAILABLE TO THE COMPANY AND ITS

    SHAREHOLDERS ................................................................................................................................................. 56

    SECTION IV: ABOUT THE COMPANY .............................................................................................................. 57

    BUSINESS .............................................................................................................................................................. 57 OUR MANAGEMENT ........................................................................................................................................... 71

    SECTION V: FINANCIAL INFORMATION ........................................................................................................ 82

    FINANCIAL STATEMENTS ................................................................................................................................. 82 WORKING RESULTS ......................................................................................................................................... 170 MATERIAL DEVELOPMENTS .......................................................................................................................... 171 ACCOUNTING RATIOS AND CAPITALISATION STATEMENT .................................................................. 172 STOCK MARKET DATA FOR EQUITY SHARES OF THE COMPANY ......................................................... 174

    FINANCIAL INDEBTEDNESS ........................................................................................................................... 177

    SECTION VI: LEGAL AND OTHER INFORMATION .................................................................................... 181

    OUTSTANDING LITIGATION AND DEFAULTS ............................................................................................ 181 GOVERNMENT AND OTHER APPROVALS.................................................................................................... 189 OTHER REGULATORY AND STATUTORY DISCLOSURES......................................................................... 191

    SECTION VII: ISSUE INFORMATION .............................................................................................................. 199

    TERMS OF THE ISSUE ....................................................................................................................................... 199

    SECTION VIII: OTHER INFORMATION ......................................................................................................... 230

    MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION .............................................................. 230 DECLARATION .................................................................................................................................................. 232

  • 1

    SECTION I GENERAL

    DEFINITIONS AND ABBREVIATIONS

    Definitions

    This Draft Letter of Offer uses certain definitions and abbreviations, which unless the context indicates or implies

    otherwise, have the meanings as provided below. Reference to any legislation, act or regulation shall be to such

    legislation, act or regulation, as amended from time to time.

    Company Related Terms

    Term Description

    the Company Godrej Properties Limited, a public limited company incorporate