MUMBAI, March 13 (Reuters) - India's Trent Ltd
on Tuesday raised 2.5 billion rupees ($50 million)
through a share sale to institutional investors at 912 rupees a
share, two sources with direct knowledge of the matter told
The issue, which was launched late on Monday was
oversubscribed nearly two times, said the sources, who declined
to be named as the information was not yet public.
Domestic institutions, including the state-run Life
Insurance Corporation of India, were among the buyers, said one
of the sources.
Indian brokerage JM Financial Services and
Standard Chartered were the lead managers to the issue,
the sources said.
Trent, the retail arm of India's diversified Tata group,
said on Monday its board had decided to open the share sale to
($1 = 49.9750 Indian rupees)
(Reporting by Indulal PM and Sumeet Chatterjee; Editing by