IT education services provider Educomp Solutions today said it has raised Rs 606.69 crore by private placement of shares with qualified institutional buyers.
The company has alloted 1,620,000 shares at Rs 3,745 a piece, aggregating to Rs 606.69 crore on private placement basis with qualified institutional buyers, the company said in a filing to the Bombay Stock Exchange.
The board has approved the issue of 1,620,000 shares at a price of Rs 3,745 a piece, including a premium of Rs 3,735 per equity shares, aggregating to an issue size of Rs 606.69 crore, the filing added.
Shares of Educomp Solutions were trading at Rs 3,762.20 on the BSE, up 9.29 per cent from previous close.
