CG Power and Industrial Solutions Limited has informed the Exchange regarding allotment of 45454545 securities pursuant to Qualified Institution Placement at its meeting held on July 04, 2025
CGPOWER · price
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CG Power and Industrial Solutions has allotted 4.54 crore equity shares of face value ₹2 each to qualified institutional buyers at ₹660 per share, raising approximately ₹3,000 crores. The issue price carries a premium of ₹658 per share over face value but is at a 2.81% discount (₹19.08) to the floor price of ₹679.08. The QIP opened on 30th June 2025 and closed on 3rd July 2025, with allotment done on 4th July 2025. Post-allotment, the company's paid-up equity share capital has increased from ₹305.82 crores to ₹314.91 crores. Marquee institutional investors including HDFC Life Insurance, HDFC Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life, Motilal Oswal, and Mirae Asset have participated in the issue.
The successful ₹3,000 crore QIP strengthens CG Power's balance sheet for growth and expansion plans, though the small 2.81% discount to floor price suggests reasonable demand. Shareholders may see modest dilution (~3% increase in share count) but the participation of reputed institutional investors signals confidence in the company's prospects.