Shares of Anant Raj Ltd fell 4% after the firm announced qualified institution placement (QIP) of equity shares at a floor price of Rs 695.83 apiece.
The floor price has been determined in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the company said in a filing to the exchanges.
The company may offer a discount of up to 5% on the floor price as permitted under the regulations. The issue price will be finalised in consultation with the book-running lead managers appointed for the offering.
At 10:55 am on October 8, Anant Raj shares were trading 4% lower at Rs 707.15 apiece.
CNBC-TV18 reported, citing sources, that the real estate company with a focus on data centers is looking to raise up to Rs 1,100 crore.
The 52-week low of the stock is Rs 376 and 52-week high is Rs 948. The market capitalisation of the stock is Rs 24,200 crore.
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