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Our Bureau

Mumbai, May 15

GVK Power & Infrastructure Ltd (GVKPIL), an infrastructure company, has completed a $300 million Qualified Institutional Placement (QIP). GVKPIL's QIP issuance is the largest issue under the SEBI QIP regulations and the demand was nearly three times the issue size. "We have priced the issue at Rs 325 per share. The funds raised will be utilised for investment in key initiatives and also finance the equity requirements of the subsidiaries of GVKPIL," said Mr Issac George, Chief Financial Officer, GVK. SSKI Corporate Finance, Citigroup Global Markets and Kotak Mahindra Capital Company were the Joint Global Coordinators and Book Runners for the issue.

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