CG Power approves issue price in qualified institutional placement

CG Power and Industrial Solutions Limited announced the approval of resolutions related to its qualified institutions placement (QIP) issue. The Securities Issue Committee finalized the issue price at INR 660.00 per equity share, which includes a premium of INR 658.00. This price reflects a discount of 2.81%, or INR 19.08 per share, compared to the floor price of INR 679.08. The company confirmed the closure of the issue today, July 3, 2025, following the receipt of application forms and funds into the escrow account from eligible qualified institutional buyers. The committee also approved the placement document dated July 3, 2025, and finalized the allocation note to be sent to the eligible buyers. The Securities Issue Committee meeting commenced at 09:45 p.m. and concluded at 10:05 p.m.