INOX Leisure has raised Rs 250 crore from a qualified institutional placement (QIP) of shares. The QIP issue, involving selling over 98 lakh shares at Rs 255 a share, which carry a face value of Rs 10, was oversubscribed 3.5 times by marquee global and domestic institutional investors. The issue allocation is around 69 per cent and 31 per cent to domestic and foreign investors respectively.
The funds will be utilised to meet capital expenditure requirements for the ongoing and future projects, to sustain growth, for business expansion and to improve financial leveraging strength apart from meeting working capital requirements and debt repayment.
INOX Leisure is amongst India’s largest multiplex chains.
