Goodluck India raises Rs200 cr via QIP

New Delhi: Steel products maker Goodluck India Ltd on Thursday said it has raised around Rs 200 crore through issue of equity shares on Qualified Institutional Placement (QIP) basis.

Its board on Wednesday approved the issue and allotment of 21,27,659 equity shares to Qualified Institutional Buyers (QIBs) at an issue price of Rs 940 per share at a premium of Rs 938 per share, aggregating to nearly Rs 200 crore, the company said in a statement.

Goodluck India successfully raised nearly Rs 200 crore in the QIP round, it said. MC Garg, Chairman of Goodluck India, said, “The recently concluded round of fundraising is well in line with the company’s growth strategy.”