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Power utility CESC Ltd has opened the offer for private placement of shares to institutional investors from October 28.
According to a release to the bourses on Wednesday, the company has fixed a floor price of Rs 677.84 for the qualified institutional placement (QIP) issue.
A discount of 5 per cent can be provided on the floor price of the equity shares at the discretion of CESC.
The power utility had said it was looking forward to raise $ 150 million (approx Rs 915 crore at current exchange rates) through the offer.
CESC Ltd is the flagship company of the RP-Sanjiv Goenka Group.
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