Real estate developer Phoenix Mills today said it has raised Rs 282.59 crore through private placement of shares to institutional investors.
Last month, the company's shareholders had given their nod to raise up to Rs 1,000 crore via qualified institutional placement (QIP), which started on July 9 and closed on July 14.
The company issued 79 lakh shares at an issue price of Rs 353.60 per share, Phoenix Mills said in a BSE filing.
The company's board has approved the issuance and allotment of 79,91,907 equity shares of Rs 2 each fully paid-up at an issue price of Rs 353.60 per share, including a premium of Rs 351.60 per equity share aggregating to Rs 282,59,38,315.20, it added.
Consequent upon the allotment of shares, the equity share capital of the company stand increased from present level of 14.49 crore shares to 15.29 shares of Rs 2 each.
Shares of the company today closed 1.49 per cent higher at Rs 375.65 apiece on the BSE.
