Godrej Properties, the realty development unit of Godrej Group, will sell shares worth up to $150.34 million over the next six months to 12 months, Economic Times reports. The sale will bring down promoter shareholding in the company from 83.79 percent currently to 75 percent.

The Mumbai-based real estate developer will also use the money to part-finance current and future projects. These include the joint development deal with Jet Airways (India) for the Bandra Kurla Complex in Mumbai. Godrej Properties will also finance its other five business development deals in Hyderabad, Nagpur, Thane, Bangalore and Mumbai.

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