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.