CG Power Announces Rs 3,000 Crore QIP Fundraise

ower and Industrial Solutions has unveiled plans to raise Rs 3,000 crore through a Qualified Institutional Placement (QIP). The company’s board has set the floor price for the issue at Rs 679.08, as per SEBI ICDR Regulations, according to an exchange filing. CG Power may, at its discretion, offer a discount of up to 5% on the floor price. This strategic move aims to bolster the company’s financial position and support its growth initiatives.