Anant Raj Ltd Raises Rs 1,100 Crore Through Equity Sale

Realty firm Anant Raj Ltd successfully raised Rs 1,100 crore by selling equity shares to institutional investors. The shares were allotted at Rs 662 each to qualified buyers. The company's shares experienced a slight dip in the market following the fundraising initiative.

Anant Raj Ltd, a notable real estate firm, has successfully raised Rs 1,100 crore via the sale of equity shares to institutional investors. The Board's Finance and Investment Committee approved the issuance and allotment of 1,66,16,314 equity shares at Rs 662 per share to qualified institutional buyers.

The Qualified Institutional Placement (QIP) issue launched by the company on October 7 concluded on October 13, attracting renowned investors like Societe Generale ODI, BNP Paribas Financial Markets, Morgan Stanley Asia Singapore, Jupiter India Fund, and Kotak Mahindra Life Insurance Company Ltd.

On Tuesday, Anant Raj's shares closed at Rs 657.75 each on the BSE, reflecting a 4% decline from Monday's closing. The company's market capitalization, based on Tuesday's share price, stands at Rs 22,577.97 crore, as it continues its operations as a leading developer in housing, commercial projects, and data centers.

(With inputs from agencies.)