Anant Raj Q2 profit up 76 percent to Rs 105.58 crore; plans to raise up to Rs 2,000 crore via QIP

Realty firm Anant Raj Ltd's consolidated net profit rose 76 per cent to Rs 105.58 crore in the second quarter of this fiscal and it plans to raise up to Rs 2,000 crore through the issue of securities to institutional investors.

Its net profit stood at Rs 60.10 crore in the year-ago period. Total income rose to Rs 523.75 crore in the July-September period of this fiscal from Rs 340.83 crore in the corresponding period of the preceding year, according to a regulatory filing on Monday.

The company's board approved the issuance of equity shares or other convertible securities by way of Qualified Institutions Placement (QIP) for an aggregate consideration not exceeding Rs 2,000 crore only.

The board also approved the issue and allotment of fully convertible warrants, each carrying a right exercisable by the warrant holder to subscribe to one equity share of face value of Rs 2 each to the persons belonging to the promoter and promoter group on a preferential basis, aggregating up to Rs 100 crore, the Delhi-NCR based builder said in the filing.