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Trent rises on fund raising plans via QIP

Read more on:    Trent | Qip | Tata Group
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Limited is trading higher by 4% at Rs 940 after the company said its board has approved a proposal to raise up to Rs 250 crore through placement of shares with institutional investors.

“The company's board has decided to open a Qualified Institutional Placement () issue of Rs 225 crore with an option of hiking the size up to Rs 250 crore in aggregate, by way of issue of equity shares, “ 's retail arm Trent Ltd said in a filing to the stock exchanges.

"The said issue is being carried out in accordance with the resolution passed by the shareholders of the company through postal ballot on November 14, 2011," it added.

A combined 3,480 shares have changed hands on the counter on opening deals on both the exchanges.

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