Rathi Steel And Power Limited announced that it expects to receive INR 1.147149335 billion in funding from a group of investors

Rathi Steel And Power Limited announced a private placement of up to 35,570,522 common shares at a price of INR 32.25 per share for gross proceeds of INR 1,147,149,334.5 on January 18, 2024. The securities will be issued on preferential basis. The transaction has been approved by the board of directors of the company.

The transaction included participation from new investors Ashwin Mehta for 2,116,279 shares, COEUS Global Opportunities Fund for 2,266,666 shares, Tano Investment Opportunities Fund, a fund managed by Tano Capital, LLC for 3,100,775 shares, and other investors.