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Punj Lloyd, the engineering and construction major, has plans to raise Rs.670.18 crore either via private placement of securities or through qualified institutional placements (QIP).
The company will be issuing 2.79 crore equity shares at a rate of Rs.240.20 per share, aggregating to Rs.670.18 crore.
"The committee of directors of the company has approved the issuance of up to 27,900,920 equity shares (including a premium of Rs.238.20 per equity share), aggregating to Rs.6,701,800,984 to qualified institutional buyers," the company said.
