Jyothy Laboratories raises Rs 228 crores through QIP

Mumbai: Jyothy Laboratories Ltd, one of the fastest growing Indian FMCG company has raised Rs. 228 crore through Qualified Institutional Placement (QIP) at an issue price of Rs. 282.62 (face value of Re. 1). The total dilution post issue stood at 10%, following which promoters holding stands at 63%.

The investors who participated in the QIP include, Sundaram, IDFC Mutual Fund, T Rowe Price, Premji Investments, ING Insurance, etc.

Commenting on the occasion, Mr. M P Ramachandran – Chairman & Managing Director, Jyothy Laboratories said, "The money raised through the QIP route will be used for brand/business acquisitions. We are pleased to note the confidence reposed by institutional investors in our organisation."

Source : Equity Bulls

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