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Aditya Birla Capital has proposed to issue equity shares worth up to ₹1,750 billion through a qualified institutional placement (QIP), according to a term sheet seen by Reuters.
The issue price for the placement is between ₹170 and ₹176, a 6.2% to 2.9% discount to Monday's closing level of ₹181.25.
Also read: IPO screener: Retail investors make beeline for ideaForge issue
The financial services firm will use the proceeds from the fundraise for investment in its units, joint ventures, and associates, among other corporate purposes.
The bookrunning managers for the issue are BofA Securities India, Jefferies India, Axis Capital, and ICICI Securities.
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