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Birla Power's follow-on public offer
HYDERABAD:
Birla Power Solutions Ltd., a Yash Birla group company and one of the leading providers of power solutions, has announced a follow-on public offer of 1.2 crore equity shares of Rs. 10 each at a premium of Rs. 32 per share aggregating Rs. 50.40 crore. The issue opens on March 24 and closes on March 29. Announcing the public offer, P. V. R. Murthy, group finance director, Yash Birla Group, said the proceeds of the public offer would be utilised for expanding existing capacities and financing a new plant for manufacturing LPG/CNG gensets, inverters, engines and acoustic hoods. Part of the proceeds would be used to meet margin money requirements.
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