Torrent Power allots 2.32 cr equity shares under QIP issue

Torrent Power has allotted 2,32,86,759 equity shares to the eligible qualified institutional buyers at the issue price of Rs 1503 per equity share (including a premium of Rs 1493 per Equity Share) which is at a discount of Rs 52.75 per Equity Share i.e. 3.40% to the floor price of ₹ 1555.75 per equity share as determined in terms of the SEBI ICDR Regulations, aggregating to approximately Rs 3500 crore, pursuant to the QIP issue.

With this allotment, the paid up equity share capital stands increased to Rs 503,90,35,430 comprising of 50,39,03,543 equity shares of Rs 10 each.