Realty firm Orbit Corp today said it has raised Rs 145.04 crore through the issue of shares to qualified institutional buyers (QIB) on a private placement basis.
The board has approved the issue price of Rs 185 a piece for the allotment of over 78.40 lakh shares to the institutional buyers, Orbit Corp said in statement to the Bombay Stock Exchange (BSE).
Under the issue, the realty firm would allot 78.40 lakh shares to QIBs at Rs 185 a piece aggregating to Rs 145.04 crore.
The bid, which opened on August 12, closed today, Orbit said.
Shares of Orbit Corp fell 5 per cent from its previous close to hit its lower trading limit of Rs 189.10 on the BSE.