Mumbai, Sept. 30 -- The fund-raising committee of the board of directors approved the allotment of equity shares under the QIP at its meeting held on 29 September 2026.

The QIP saw participation from from marquee investors such as Bandhan Mutual Fund, Leading Light Fund VCC, India Opportunities Growth Fund LTD - Pinewood Strategy, Elm Park Fund, ITI Mutual Fund and Societe Generale.

Pursuant to the QIP, the company allotted 1,81,10,473 equity shares of face value Rs 10 each at an issue price of Rs 165.65 per equity share (including a premium of Rs 155.65 per equity share).

The company would use the net proceeds from the issue for investing in its subsidiary Vibhav Energy; for repayment/ pre-payment of certain borrowings availed by the ...