Markets

GVK Power to raise Rs 1,000 cr through QIP offer

V. Rishi Kumar Hyderabad | Updated on January 23, 2018 Published on May 16, 2015

To have green shoe option of Rs 500 cr

GVK Power & Infrastructure Ltd has decided to issue equity shares and raise up to Rs 1,000 crore by offering them to qualified institutional buyers.

The proposed offer has a green shoe option to retain up to Rs 500 crore from the excess subscriptions received.

The Hyderabad-based diversified company has informed BSE that the board of directors of the company at its meeting held on Saturday approved the Qualified Institutional Placement (QIP) issue, subject to approval of the shareholders.

Published on May 16, 2015
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