Mumbai, Aug. 21: Spentex Industries has allotted 75 lakh shares to qualified institutional buyers (QIBs) under the provisions of Chapter XIII-A of the guidelines issued by the Securities and Exchange Board of India (Sebi).

This is the first qualified institutional placement (QIP) by any Indian company after fresh guidelines were notified by the market regulator. Spentex has raised Rs 46.59 crore through the QIP at a price of Rs 62.13 per share.

Spentex said the shares have been allotted to Sundaram Mutual Fund, Goldman Sachs Investments (Mauritius), Voyager Fund (Mauritius) and Nikko Asset Management (Mauritius).

The funds raised through the QIP will be used for further expansion through alliances, including acquisitions, it added.

Spentex Industries was in the news earlier this year when it acquired close to 64 per cent in Indo Rama Textiles from its promoters at a price of Rs 84.13 per share.