J Kumar Infraprojects raises ₹137 cr thru QIP

Our Bureau Mumbai July 24 | Updated on July 24, 2014

J Kumar Infraprojects Ltd, a civil engineering and construction company, has concluded its fund raising exercise through the Qualified Institutions Placement (QIP) process.

The company raised ₹137 crore through the QIP route, which saw participation of investors in India and across the globe.

The company accordingly will issue 44,25,000 equity shares of face value of ₹10 per equity share at a price of ₹309.98, including a premium of ₹299.98. Post issue, the promoters holding will be 51.04 per cent as against 59.16 per cent on June 30, 2014, the company said in a statement.

Jagdish Gupta, Chairman, J Kumar Infraprojects Ltd, said the funds raised would be deployed to fund the company’s capital expenditure, meet working capital requirements and for general corporate purposes.

Anand Rathi Advisors Ltd and Edelweiss Financial Services Ltd acted as global co-ordinators and book running lead managers for the QIP.

Published on July 24, 2014

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