GVK Power & Infrastructure Ltd (GVKPIL) has moped up Rs 717 crore through
placements of shares with qualified institutional buyers (QIBs).
GVKPIL has reportedly approved the issue of 17.33 crore equity shares of the
company at Rs 41.35 a share of the company aggregating Rs 717 crore. These funds
are likely to be used for some of the ongoing projects and to take up projects
that are in the offing.
In June 2009, GVKPIL board had approved allotment of shares to QIBs to raise
funds. It has also cleared a proposal to increase the authorised capital from Rs
177 crore to Rs 250 crore.
Also See:
GVK Power to
offload stake in power, road business (20-Apr-09)