Moneycontrol Bureau
Shares of Orient Green Power (OGPL) climbed 7.5 percent intraday Thursday on raising funds from its promoters.
"OGPL has raised Rs 250 crore from existing promoters Shriram Venture (SVL) and its subsidiaries & financial investors, including EW Special Opportunities Fund and Ecap Equities, through preferential allotment," the renewable energy company said in its filing.
The company has alloted preference shares at a price of Rs 14.56 per share.
"The investment will enable company to augment its wind energy capacity and to reduce its interest outgo & outstanding debt," S Venkatachalam, Managing Director of OGPL said.
OGPL, which is promoted by Shriram Group, has 428 MW of operational wind assets and 106 MW of operational biomass assets.
Equirus Capital acted as advisor to OGPL and Shriram Group for fund raising.
At 12:37 hours IST, the scrip of Orient Green Power Company was quoting at Rs 12.06, up Rs 0.60, or 5.24 percent on the BSE.Posted by Sunil Shankar Matkar
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
