Orient Green Power Company announced that its board of directors has approved to allot of securities to qualified institutional buyers (QIB) upto Rs 4 billion.

The above allotment is subject to the approval of the shareholders at the ensuing Annual General Meeting to be held on Aug. 12, 2014, it said.

Shares of the company gained Rs 0.05, or 0.31%, to settle at Rs 16.15. The total volume of shares traded was 60,375 at the BSE (Wednesday).