GMR Infrastructure today said it has raised Rs 1,477 crore through issuing shares to qualified institutional investors.
The leading infrastructure player has raised the amount by selling shares at Rs 31.50 apiece, lower than the set floor price of Rs 33.14 per share.
However, details of the amount of shares placed under Qualified Institutional Placement (QIP) could not be immediately ascertained.
When contacted, a GMR Infrastructure spokesperson told PTI that the company has raised about Rs 1,477 crore through the issue.
The QIP, which opened on July 2, closed today.
In a regulatory filing, the company said the management committee of its board passed a resolution today for "determining and approving the issue price of Rs 31.50 per equity share for the equity shares to be allotted to QIBs in the QIP". QIB refers to Qualified Institutional Buyers.
The company scrip closed at Rs 28.85, down more than 8 per cent, on the BSE.
