Borosil Renewables Ltd announces Successful Completion of Rs 200 crores QIP Posted On: 2020-12-18 03:26:55 (Time Zone: Arizona, USA) Borosil Renewables Limited (BRL) announced the successful completion of fund raising of Rs. 200 Cr through a Qualified Institutions Placement (Issue). The Securities Issue Committee of BRL approved opening of the Issue on December 14, 2020 and approved the closing of the Issue on 17th December 2020. BRL allotted 1,58,04,030 shares of face value of Re. 1 each at Rs. 126.55 per share. Post the QIP issue, the holding of promoter and promoter group will be 61.92%. Commenting on the QIP's response, Pradeep Kheruka, Executive Chairman of Borosil Renewables Ltd., said, "We are overwhelmed with the response from the investors and thank them for showing confidence in the business and management team of Borosil Renewables. The funds raised through this QIP will help us undertake our planned expansion and we are excited to capitalise on the business opportunity that our industry offers."