Deepak Fertilisers and Petrochemicals Corporation Ltd on Friday informed that it has raised ₹510 crore through the issue of equity shares to institutional investors.
The company launched qualified institutional placement (QIP) issue on October 19. It was closed on Friday.
The securities issue committee of the board of directors at its meeting held on Friday approved the closure of the issue on October 22, the company said in its regulatory filing
“The committee determined and approved the “allocation of 1,24,39,029 equity shares at an issue price of ₹410 per equity share (including a premium of ₹400 per share)”.
The allocation to institutional buyers has been made at a discount of ₹12.48 per share, from the floor price of ₹422.48 per share.
The filing did not mention the proposed utilisation of funds raised through this QIP issue.
This article was first published on livemint.com.