Secondary Issues
Refractry player RHI Magnesita India raises Rs.900-Cr via QIP
Gurugram-headquartered refractory player RHI Magnesita India has raised INR 900 crore through qualified institutions placement. The company will issue 1,57,15,034 shares at INR 572.70 each. HSBC Securities and Capital Markets (India) Pvt Ltd was the sole book runner on the QIP. The proceeds will be used to finance the company's growth through acquisition and in the modernization of operations. RHI Magnesita India is a global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200 degree Celsius in a wide range of industries, including steel, cement, non-ferrous metals and glass.
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