CG Power and Industrial Solutions Limited has informed the Exchange about qualified Institutional Placement
CGPOWER · price
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CG Power and Industrial Solutions has opened its Qualified Institutional Placement (QIP) issue on 30th June 2025, following board approval in October 2024 and shareholder approval in December 2024. The floor price has been fixed at ₹679.08 per equity share of face value ₹2, based on the SEBI pricing formula. The company may offer a discount of up to 5% on this floor price at its discretion. The final issue price will be determined in consultation with the three book-running lead managers — IIFL Capital Services, DAM Capital Advisors, and HSBC Securities. The trading window for insiders remains closed during the issue process.
The QIP will lead to dilution of existing shareholders, though the final impact depends on the issue size and pricing, which are yet to be disclosed. The strong floor price suggests the company is leveraging a healthy stock price to raise capital, which could be used for growth, capex, or debt reduction.