Investment6 Dec 2024, 05:44 am
Torrent Power Ltd. Raises ₹ 3500 Crore Through QIP
AI Summary
Torrent Power Ltd. has raised approximately ₹ 3500 Crore through a Qualified Institutions Placement (QIP) by issuing 2,32,86,759 Equity Shares at an issue price of ₹ 1503 (including a premium of ₹ 1493) per Equity Share. The QIP was conducted at a discount of ₹ 52.75 per Equity Share, which is 3.40% to the floor price of ₹ 1555.75 per Equity Share. The funds were raised for general corporate purposes.
Key Highlights
- Torrent Power Ltd. raised ₹ 3500 Crore through a QIP.
- 2,32,86,759 Equity Shares were issued at ₹ 1503 per Equity Share.
- The QIP was conducted at a discount of ₹ 52.75 per Equity Share.
- The funds raised will be used for general corporate purposes.
- The paid-up equity share capital of the Company stands increased to ₹ 503,90,35,430.