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Godawari Power raises Rs100 cr through QIP

Godawari Power raises Rs100 cr through QIP
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First Published: Mon, Jan 14 2008. 03 30 PM IST
Updated: Mon, Jan 14 2008. 03 30 PM IST
PTI
Mumbai: Godawari Power & Ispat said on 14 January it has raised over Rs100 crore through institutional placement basis to investors including Lehman Brothers, DSP Merrill Lynch and BNP Paribas.
The board of directors in its meeting on 12 January, allotted 32.25 lakh equity shares of Rs10 each at a premium of Rs300 a share through qualified institutional placement basis, the company said in a filing to the Bombay Stock Exchange.
Godawari Power would issue the said shares to various domestic as well as foreign investors such as Lehman Brothers, Oman National Investment Corporation, Punjab National Bank, DSP Merrill Lynch, Deutsche Securities Mauritius and Allahabad Bank.
Besides, shares were also issued to Japan Trustee Services Bank, BNP Paribas, the GMO Emerging Illiquid (Mauritius) Fund, and ABN Amro Mutual Fund.
Further, the company said during a maintenance operations at one of the four sponge iron kilns, eight labourers died and two suffered serious injuries.
The company announced a compensation of Rs3.50 lakh to each of the families of the deceased labourers and is taking care of the injured labourers.
There may not be any substantial impact on the profitability of the company due to this incident, Godawari Power said, adding that the rest of the plants including the other three sponge iron kilns of the company are operating smoothly.
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First Published: Mon, Jan 14 2008. 03 30 PM IST