CG Power and Industrial Solutions is looking to raise funds of around ₹3,000 crore via a qualified institutional placement (QIP) that is likely to be launched soon, sources familiar with the matter told CNBC-TV18 on Monday, June 30.
The company has reportedly roped in Dam Capital, HSBC and IIFL bankers to advise on the transaction. Details on the amount of equity the company is planning to dilute or proposed buyers are not immediately available.
CG Power, now part of the Murugappa Group, reported consolidated revenues of ₹9,909 crore in FY25 and continues to expand across industrial and power systems, as well as consumer appliances.
Earlier in the month, CG Power bagged a ₹641-crore order from Power Grid Corporation of India Ltd (PGCIL), marking the company’s highest single order to date.
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CG Power shares closed marginally higher at ₹682.10 on the BSE on Monday, June 30.
(Edited by : Shoma Bhattacharjee)
