CG Power Closes ₹35-Billion QIP At ₹660/Share, 2.8% Discount To Floor Price

CG Power and Industrial Solutions Ltd. said Thursday it has closed its qualified institutional placement issue, setting the issue price at ₹660 per share — a 2.81% discount to the floor price of ₹679.08 announced earlier. The QIP was approved to raise up to ₹35 billion.

The board confirmed the receipt of applications and funds in escrow from eligible institutional buyers, marking the official closure of the offering on July 3.

Book-running managers for the QIP were IIFL Capital Services, DAM Capital Advisors, and HSBC Securities and Capital Markets (India).