Simplex Infra raises Rs 400cr via QIP route

Simplex Infra raises Rs 400cr via QIP route

BS Reporter / Mumbai December 19, 2007

Simplex Infrastructures, one of the largest infrastructure solutions providers in India, has raised Rs 400 crore through qualified institutional placement (QIP) to fund its ongoing and future projects. The board of directors  of  the  company  has approved allotment of 64,00,000 equity  shares of Rs 2 at Rs 625 each to the qualified institutional buyers under QIP amounting to Rs 400 crore and the new issue accounts for 13 percent of the expanded capital.

The issue was over-subscribed by quality institutional investors from India and abroad, the company said in a release.