Ackruti City to raise Rs 302 cr via QIP

by khalid on 12/09/2009 · 0 comments

Ackruti city

Real Estate company Ackruti City has informed SEBI that it has issued and allotted over 60.35 lakh equity shares at Rs 501 each, aggregating to Rs 303.40 crore by way of private institutional placement basis.

Now after this QIP issue, the paid-up equity capital of the company stands increased to 72.73 crore from 66.70 crore.

The proceeds will be used for working capital and part of it will be used for buying a few assets in Mumbai as well as South Mumbai.

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