Capacit'e Infra raises Rs 200 cr via QIP route for working capital needs

Capacit'e Infra on Friday said that it has raised Rs 200 crore through issuance of Qualified Institutional Placement (QIP).

The proceeds from the QIP will be utilised for funding working capital requirements and other general corporate purpose of the company, Capacit'e Infra said in a statement.

"Capacit'e Infraprojects announces the successful completion of its fundraise of Rs 200 crore through a QIP. The book was subscribed more than four times and witnessed traction from a diversified set of investors," it said.

The company's QIP committee approved the issue allotment of 79,47,546 equity shares of face value of Rs 10 each to 24 Qualified Institutional Buyers (QIBs) at an issue price of Rs 251.65 per equity share (including a premium of Rs 241.65 per equity share).

Capacit'e Infra Executive Director Rohit Katyal said, "We witnessed a positive response to our QIP. It reflects the trust investors have in our potential. The funds raised through this QIP shall empower us to accelerate our growth trajectory and further strengthening our position in the building infrastructure sector."

Mumbai-headquartered Capacit'e Infraprojects is an engineering, procurement and construction company providing end-to-end building of construction services.