Trent raises Rs 250 cr through share sale

Tata group's retail arm Trent today said it has raised nearly Rs 250 crore through placement of shares with institutional investors. The company has decided to close the QIP (Qualified Institutional Placement) and has accorded its consent for the issue of 27,41,228 shares at a price of Rs 912 apiece for an aggregate value of Rs 249.99 crore, Trent said in a filing to the Bombay Stock Exchange (BSE). BSE | NSE Price Trent Click here for Cloud Computing Also Read Related Stories News Now - Trent rises on fund raising plans via QIP - NBCC IPO may be launched in March - Pantaloon, Shopper's Stop, Trent fall as reform hopes wane - Outcome of ONGC auction tarnished PSU's image: Moody's - NBCC stake sale likely in last week of March - Keep price low for disinvestment, suggest experts The QIP issue was carried out in accordance with the resolution passed by the shareholders of the company through postal ballot on November 14, 2011, it added. On March 12, the company's board had approved the QIP issue. Shares of Trent today closed at Rs 937.75 on the BSE, up 1.65% from its previous close.