The amount will be used to fund the payout for the voluntary retirement scheme (VRA), which is likely to cost over Rs 200 crore.
The issue comprises fresh issue of equity shares worth Rs 400 crore and an offer for sale of up to 1.33 crore equity shares by a promoter and existing shareholders.
Company's stock rises after it announces that its financial services business will be demerged from Reliance Industries.
Currently, 110 KV and 220 KV lines serve Mumbai's demand of around 3,500 MW.
These segments are BFSI, Healthcare, ISVs, Media and Entertainment, and Retail.
The production is allocated to 11 companies.
The center will be set at Thiruvananthapuram campus of Tata Elxsi.
Tata Motors will provide these vehicles over a period of three years.
Airtel has removed the data usage cap on all existing plans.
The valuation of the company was estimated to be up to $3 billion.