Investors snap up shares in India Cements

The company raises $150 million to expand its business, bringing the total amount raised through QIPs in the past two weeks to $2 billion.

India Cements has become the fifth Indian company to finish a qualified institutional placement QIP of size in less than two weeks, raising $150 million that will help pay for the purchase of two second-hand freight ships and new plants in North India.

The deal was completed just ahead of a ruling by IndiaÆs competition commission on Thursday, which determined that the countryÆs cement industry is involved in restrictive trade practices and ordered an end to price fixing. The inquiry...

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