Realty firm Parsvnath Developers is planning to raise up to $67 million (about Rs 300 crore) through private placement of shares to institutional investors for executing its ongoing projects.
Parsvnath had opened its qualified institutional placement (QIP) last week to raise $60 million, but the company got subscriptions worth $67 million, investment banking sources said.
The company’s board of directors will meet in a day or two to decide the final amount, they added.
The floor price for QIP was fixed at Rs 141.57 a share.