Suzlon Energy said its committee set the floor price of the QIP at Rs 18.44 a piece. It is based on the pricing formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations.
IOC has already approved an increase in its authorised share capital of Rs 15,000 crore. The plan should strengthen capex spending and the credibility of its emission-reduction plans.
Sulzon Energy had on Tuesday said that its board of directors would meet on Friday to consider and approve capital raising by way of one or more or combination of permissible methods.