NEW DELHI: Torrent Power’s Rs 3,500 crore (approximately $413 million) QIP (qualified institutions placement), one of the largest fund raiser by a private utility in this fiscal, was oversubscribed by four times with bids for Rs 14,000 crore, the company said on Monday.
This is the first equity raise by the company and marks the fund raiser in three decades from the Ahmedabad-based pharma-to-power conglomerate. The entire issue was placed with marquee long only investors such as SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Bank and Amundi, the company said.
Rs 3,500 crore Torrent Power QIP oversubscribed 4 times
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