GPT Infraprojects Sets QIP Floor Price At Rs 183.83 Per share

GPT Infraprojects Ltd. will raise funds through a qualified institutional placement (QIP) at a floor price of Rs 183.83 per equity share. The company's Fund Raising Committee approved the QIP launch at a meeting on Monday, according to an exchange filing.

This approval followed the board of directors' decision on July 5 and a special resolution passed by shareholders on Aug. 7.

The company may offer a discount of up to 5% on the floor price for the QIP at its discretion.

The relevant date for the QIP is Aug. 26, in line with regulatory requirements.

Shares of GPT Infraprojects closed 3.29% higher at Rs 183.80 apiece ahead of the announcement, as compared to a 0.75% advance in the benchmark BSE Sensex.