The fresh issue leads to dilution of 9.9 per cent the post issue equity capital while it will be 1.4 per cent offer post issue equity capital.

The company will use the raised capital for financing capital expenditure requirements through investments in the company subsidiaries, for the development of ongoing projects of the subsidiaries, prepayment, in part or in full, of certain outstanding borrowings availed by the company and its certain subsidiaries through investments in such subsidiaries. It will also be funding strategic investments and inorganic growth through unidentified acquisitions and general corporate purposes.

The company has appointed SBI Capital Markets, JM Financial, Avendus Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets (India) P, Jefferies India.

The issue will close on June 23.

Published on June 22, 2026