India's Infrastructure Development Finance Co has raised $575 million through share sale to institutional investors, two sources with direct knowledge of the deal said on Tuesday.
The qualified institutional placement, which opened on Monday and closed a day later, has been priced at Rs168.25 a share, said the sources, who declined to be named as they were not authorised to speak to the media.
"The response from both domestic as foreign investors has been very strong," a source said, adding the issue would lead to equity dilution of 10.6%.
Credit Suisse, Morgan Stanley, CLSA, and IDFC Capital managed the share sale, the sources said. Officials at the banks could not immediately be reached by Reuters for comment.
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