J Kumar Infraprojects raised Rs 1.37 billion through the QIP route, which saw participation by some highly reputed investors in India and across the globe.

The company accordingly will issue 44,25,000 equity shares of face value of Rs 10 per equity share at a price of Rs 309.98 including a premium of Rs 299.98. Post issue the promoters holding will be 51.04% as against 59.16% on Jun. 30, 2014.

Jagdish Gupta, chairman, J Kumar Infraprojects said, "The high level of interest shown by leading institutional investors across the globe, reflects their confidence in the company's consistent record of good performance."

Shares of the company declined Rs 9.05, or 2.67%, to settle at Rs 330. The total volume of shares traded was 142,380 at the BSE (Wednesday).