Deals Buzz: Shree Cement seeks to raise over Rs.2,000 crore via QIP
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New Delhi, Nov. 19 -- Mint brings you your dose of the top deals news, reported from newsrooms across the country
Shree Cement seeks to raise over Rs.2,000 crore via QIP
Shree Cement Ltd, India's third largest cement maker, is at an advanced stage of raising more than Rs.2,000 crore through a qualified institutional placement (QIP) offering, Mint reported citing two people aware of the development. The money will be used for capital expenditure and debt reduction and the fundraise, which could be anywhere between Rs.2000- Rs.3000 crore depending on demand from investors, is expected to close within this quarter. Shree Cement has hired JM Financial and ICICI Securities as advisers to manage the QIP. QIP is a tool, through which listed co...
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