GVK Power & Infrastructure said it has fixed the price for the issue of 17.33 crore shares for the institutional buyers at Rs 41.35 a piece.
As per the “bids received from QIBs, the (board) committee has approved the issue of 17.33 crore equity shares at a price of Rs 41.35 per piece aggregating to Rs 716.84 crore,” the company said in a filing to the BSE.
The bids for the issue of shares closed on July 7, the power and infrastructure developer added.
Shares of GVK Power & Infrastructure were trading at Rs 40.25, down 3 per cent in the afternoon trade on the BSE.