Anant Raj raises Rs 1,100 crore by selling equity shares to investors

New Delhi: Realty firm Anant Raj Ltd has raised Rs 1,100 crore through the sale of equity shares to institutional investors.

The Finance and Investment Committee of the board of directors approved the issue and allotment of 1,66,16,314 equity shares to eligible qualified institutional buyers at an issue price of Rs 662 apiece, aggregating to Rs 1,100 crore, according to a regulatory filing on Tuesday.

The company launches its Qualified Institutional Placement (QIP) issue on October 7. The issue closed on October 13.

The shares were issued to investors, including Societe Generale ODI, BNP Paribas Financial Markets, Morgan Stanley Asia Singapore, Jupiter India Fund and Kotak Mahindra Life Insurance Company Ltd.

The company's shares on Tuesday closed at Rs 657.75 apiece on the BSE, down 4 per cent from Monday. Its market capitalisation stood at Rs 22,577.97 crore, based on Tuesday's closing price.

Anant Raj is one of the leading developers of the country. It develops housing and commercial projects as well as data centres.