Jaiprakash, GMR place shares amid Modi euphoria

Moves by the Indian infrastructure companies illustrate the country's improved post-election mood.

Jaiprakash, GMR place shares amid Modi euphoria

Indian infrastructure building company Jaiprakash Associates completed an accelerated qualified institutional placement QIP of shares Thursday, drawing solid demand as investors continued to flock to India amid a post-election euphoria.

Jaiprakash Gaur’s company raised Rs15 billion $250 million in the QIP after pricing shares at the bottom of its Rs70.72 to Rs74 price range, under the leads of CLSA and Standard Chartered. The final price achieved represents a 5% discount to the shares' July 2...

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