Jhunjhunwala-backed DB Realty likely to raise up to 1,500 cr via QIP at 258 per share [Video]

Jhunjhunwala-backed DB Realty has launched its Qualified Institutional Placement (QIP) to raise capital for business expansion and debt repayment. The total size of the QIP is projected at ₹1,500 crore, with an indicative price of ₹258 per share, sources informed CNBC-TV18.

The base size of the QIP stands at ₹1,000 crore, accompanied by a Greenshoe option of ₹500 crore, sources said.

The floor price for the QIP has been set at ₹270.87 per share.

DB Realty aims to utilise the proceeds from the QIP to support its business operations and fulfill existing debt obligations.

The total equity dilution resulting from the QIP is expected to be around 10.4%.

On March 7, in a stock exchange filing, DB Realty said its board approved the floor price of ₹270.87 for the QIP and that the board will meet on or after March 13 to approve the issue price.

“We wish to inform you that a meeting of the Board/ Committee …