Simplex to raise Rs 400 cr through QIP

New Delhi, Dec 19 (UNI) Infrastructure solutions providers Simplex Infrastructures Ltd today said it will raise Rs 400 crore through qualified institutional placement (QIP) to fund the future projects.

'' The board has approved allotment of 64 lakh equity shares of rupees two at Rs 625 each to the Qualified Institutional Buyers under QIP amounting to Rs 400 crores,'' company said in a statement.

This new issue accounts for 13 per cent of the expanded capital and capital raised will be utilised for funding the company's future projects, it added.

Currently, the company's book order stands at over Rs 8,100 crores.

UNI