Orient Green Power surges on plan to raise funds up to Rs 500 crore

Orient Green Power Company is currently trading at Rs. 13.65, up by 0.37 points or 2.79% from its previous closing of Rs. 13.28 on the BSE. The scrip opened at Rs. 13.60 and has touched a high and low of Rs. 13.84 and Rs. 13.55 respectively. So far 3317 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 20.10 on 20-Jan-2015 and a 52 week low of Rs. 9.61 on 09-May-2014. Last one week high and low of the scrip stood at Rs. 15.00 and Rs. 13.02 respectively. The current market cap of the company is Rs. 779.97 crore. The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 9.21% and 15.79% respectively. Orient Green Power Company has received an approval to raise funds through further issue of securities up to Rs 500 crore. The board of directors at their meeting held on May 07, 2015 has approved for the same. The company will raise funds through Domestic/ international offerings by way of Foreign Currency Convertible Bonds (FCCB) and any other instruments, to Indian or Foreign Institutional Investors/ Foreign Mutual Funds/ Overseas Corporate Bodies/Foreigners/other Foreign parties/ Indian Financial Institutions/ Alternative Investment Funds/ Qualified Institutional Buyers/ Companies/ individuals/ other persons or investors. Orient Green Company is leading Indian independent renewable energy-based power Generation Company focused on developing, owning and operating a diversified portfolio of renewable energy power plants. The company is the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity.