Brigade Enterprises has successfully raised Rs 500 crore via private placement of shares to institutional investors. The company has allotted 2,19,78,021 equity shares to qualified institutional buyers at Rs 227.50 apiece. The qualified institutional placement (QIP) issue opened on April 25 and closed on April 28.
As many as 40 investors took part in the QIP issue including Kotak Funds, Kuwait Investment Authority Fund, HSBC fund, BNP Paribas Arbitrage, Kotak Mahindra, ICICI Prudential, Max Life Insurance Company, Sundaram Mutual Fund, Franklin India and Government Pension Fund Global.
Brigade Group is one of the India’s leading Real Estate player headquartered in Bangalore has over the past 29 years created many landmarks and innovative projects across South India.