That is the primary fairness increase by the corporate and in addition the primary within the final three a long time by Torrent Group.
The problem was oversubscribed 4 instances, receiving bids of about ₹14,000 crore towards the bottom difficulty dimension of ₹3,500 crore, the corporate mentioned.
“The robust response to the QIP is a testomony to the market’s conviction within the Torrent’s progress technique, execution capabilities, operational excellence and best-in-class capital allocation. This capital increase will strengthen our steadiness sheet and speed up our progress plans,” Samir Mehta, chairman of Torrent Group, mentioned within the assertion.
The corporate added that the QIP difficulty garnered a big response from buyers, together with home mutual funds, world buyers and insurance coverage corporations, demonstrating robust confidence within the firm’s fundamentals and India’s energy sector.
Your complete difficulty was positioned with buyers equivalent to SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Financial institution and Amundi.The problem had opened on December 2 and concluded on December 5.Kotak Mahindra Capital Firm, Jefferies India and JM Monetary had been the lead managers for the QIP.
