Vishnu Chemicals raises Rs200 cr via QIP

New Delhi: Speciality chemicals maker Vishnu Chemicals Ltd on Monday said it has raised Rs200 crore via qualified institutions placement (QIP) of its equity shares.

On August 1, the fund-raising committee had approved the allotment of 57,97,095 equity shares of face value of Rs2 at an issue price of Rs345 per share. In a regulatory filing, Vishnu Chemicals said “its first-ever QIP has witnessed a ‘strong response’ from marquee domestic and foreign institutional investors. We are pleased to announce the successful closure of QIP of Rs200 crore,” Vishnu Chemicals Chairman and Managing Director Krishna Murthy Cherukuri said. This investment marks a pivotal moment in the journey of Vishnu Chemicals.