CGPOWER

ower QIP: Rs 3000 crore fundraise announced; floor price fixed

CG Power QIP : CG Power and Industrial Solutions has announced a fundraising plan. The company said that it will raise around Rs 3,000 crore through a Qualified Institutional Placement (QIP). According to an exchange filing by CG Power, the board has approved the floor price for the issue at Rs 679.08, based on the pricing formula as prescribed under the SEBI ICDR Regulations. CG Power, the company in filing said, at its discretion, offer a discount of not more than 5 per cent on the floor price so calculated for the issue.