Brigade Enterprises has been planning to raise up to Rs 500 crore through private placement of shares to institutional for future growth of the company.

The company has said in a BSE filing that the board “approved the raising of up to Rs 500 crore by way of Qualified Institutional Placement (QIP).”

It added that the opening of the issue, fixation of issue price, closing of the issue and allotment of equity shares will be done by the committee of directors of the company.

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