Simplex Infra to raise Rs 400cr via QIP route

Simplex Infrastructures, an infrastructure solutions provider, plans to raise Rs 400 crore through placement of shares with qualified institutional investors. the company will issue 64 lakh equity shares at a price of Rs 625 per share, at a premium of Rs 623 over the face value of Rs 2 per share.

The company's directors at its meeting held on December 13 have approved the allocation of the equity shares. The closing date for receiving bids for the issue was December 13, 2007, the company informed the BSE.

Simplex Infrastructures had in October allotted 55 lakh warrants at Rs 401 per warrant to RBS Credit and Financial Developments.

The company has bagged contracts totalling Rs 2062 crore since September. This includes a Rs 580 crore contract from DP World.