Torrent Power Launches QIP of Shares at Rs 1,555.75 Each
POWER & RENEWABLE ENERGY

Torrent Power Launches QIP of Shares at Rs 1,555.75 Each

Torrent Power announced the initiation of equity offerings on a qualified institutional placement (QIP) basis, setting a floor price of Rs 1,555.75 per share. The company aims to raise up to Rs 50 billion in one or more tranches but has not disclosed the exact number of shares to be issued or the total size of the issue.

Speculations suggest the issue size is likely to range between Rs 35 billion and Rs 50 billion.

In a stock exchange filing, the company stated that the fund-raising committee of its board, during a meeting held on December 2, approved the opening of the issue. The committee also determined the floor price for the offering in line with the pricing formula prescribed by the capital market regulator, SEBI.

Earlier, in July, the company's shareholders had approved a proposal to raise up to R 50 billion through various means, including equity shares, foreign currency convertible bonds (FCCBs), debentures, or other equity-linked instruments.

Torrent Power had previously highlighted its on-going need for working capital and capital expenditure to support the upgradation and expansion of its power generation and distribution businesses, as well as its on-going projects.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Torrent Power announced the initiation of equity offerings on a qualified institutional placement (QIP) basis, setting a floor price of Rs 1,555.75 per share. The company aims to raise up to Rs 50 billion in one or more tranches but has not disclosed the exact number of shares to be issued or the total size of the issue. Speculations suggest the issue size is likely to range between Rs 35 billion and Rs 50 billion. In a stock exchange filing, the company stated that the fund-raising committee of its board, during a meeting held on December 2, approved the opening of the issue. The committee also determined the floor price for the offering in line with the pricing formula prescribed by the capital market regulator, SEBI. Earlier, in July, the company's shareholders had approved a proposal to raise up to R 50 billion through various means, including equity shares, foreign currency convertible bonds (FCCBs), debentures, or other equity-linked instruments. Torrent Power had previously highlighted its on-going need for working capital and capital expenditure to support the upgradation and expansion of its power generation and distribution businesses, as well as its on-going projects.

Next Story
Infrastructure Transport

Banihal Bypass Started, Milestone Achieved By NHAI On NH44

The National Highways Authority of India (NHAI) has achieved another milestone on the Jammu-Srinagar four-lane highway after nearly four years of construction. The NHAI has completed the Banihal Bypass, and one side of the bypass was opened for traffic following a post by Union Minister for Road Transport and highways Nitin Gadkari on his official X handle. Traffic has been allowed from Jammu to Srinagar on one tube of the much awaited Banihal bypass.Project head of Banihal bypass from NHAI Kumar Jainendra told Greater Kashmir that the full public cooperation and support from locals was u..

Next Story
Infrastructure Transport

Hyderabad: Rs 70 Bn Sanctioned For Road Infra Works

As part of the Hyderabad City Innovative and Transformative Infrastructure (H-CITI) program the state government sanctioned Rs 70 billion for 38 works, including the construction of flyovers, underpasses, and road-over-bridges (ROB) to ease the traffic in various parts of Hyderabad and its nearby municipalities. As part of the Strategic Road Development Programme (SRDP) initiated by the previous BRS government, several flyovers and road infrastructure projects were taken up mostly under the limits of the Greater Hyderabad Municipal Corporation (GHMC). Out of the 42 works under SRDP, 36 projec..

Next Story
Infrastructure Transport

India's Second Cable-Stayed Bridge to Be Built In Howrah

Eastern Railways is set to construct India’s second cable-stayed steel deck bridge in Howrah, aimed at easing traffic congestion on the Howrah Bridge. The new bridge will span the existing GT Road route, linking Howrah Station with the Howrah Bridge. The new structure is a response to the rising volume of vehicular traffic, which has been placing significant strain on the 75-year-old Howrah Bridge, leading to regular traffic jams and delays.The new cable-stayed bridge will feature a four-lane design and will measure 134 m in length, an expansion from the existing 60 meters of the Chandmari B..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000