Realty player Ackruti City has raised over Rs 302 crore through the issue of over 60 lakh equity shares by way of institutional placement basis.

The QIP committee of the board of directors of the company at its meeting held yesterday has issued and allotted over 60.35 lakh equity shares at Rs 501 each, aggregating to Rs 303.40 crore, the company said in a filing to the Bombay Stock Exchange.

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Consequent to the issue and allotment of the equity shares, the issued, subscribed and paid-up equity capital of the company stands increased to 72.73 crore from 66.70 crore.

Shares of Ackruti City finally settled for the day at Rs 555.95, down nearly 2 per cent on the BSE, after touching its intra-day high of Rs 574.70.

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