The country's largest private sugar producer, Bajaj Hindusthan, on Friday said it has raised Rs 723.18 crore through the issue of shares.

The company has allotted 3.54 crore shares at a price of Rs 204, aggregating to Rs 723.18 crore, Bajaj Hindustan said in a filing to the Bombay Stock Exchange.

Consequent to the allotment of the stocks, the paid-up equity share capital of the company increased to Rs 17.68 crore from Rs 14.14 crore, it added.

Earlier, Bajaj Hindusthan had said that its shareholders have approved the proposal to raise up to Rs 1,500 crore by securities, including the Qualified Institutional Placement route.

Shares of Bajaj Hindusthan closed at Rs 203.05, down 0.59 per cent on the BSE.