Lloyd Metals And Energy Raises Rs 1,200 Crore Through QIP

Lloyd Metals and Energy Ltd. has raised Rs 1,200 crore through qualified institutional placements of equity shares. The company closed the issue on Tuesday with immediate effect, following the receipt of application forms and funds in the escrow account from eligible, qualified institutional buyers.

The company has allotted 1.75 crore shares at an issue price of Rs 696 per share, according to an exchange filing. The issue price was at a 4.93% discount to the floor price of Rs 732.08 apiece.

The company has also approved and finalised the confirmation of the allocation note that will be sent to the eligible qualified institutional buyers and refund letters to those who are entitled to refunds. However, details of the allocation weren't revealed.

Shares of Lloyd Metals and Energy closed 0.74% higher at Rs 760.40 apiece on the BSE, as compared to a 0.49% advance in the S&P BSE Sensex.