KSK Energy Ventures said that the board of directors of the company has allotted 40,404,040 equity shares of face value Rs 10 each at a price of Rs 99 a equity share (including share premium of Rs. 89 a equity share) aggregating to Rs 4 billion.

The equity shares will be issued to Qualified Institutional Buyers ('QIBs') under qualified institutions placement under Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

Shares of the company declined Rs 3.25, or 2.79%, to trade at Rs 113.25. The total volume of shares traded was 6,795 at the BSE (9.34 a.m., Tuesday).