Bharat Financial Inclusion’s QIP issue over subscribed

G Naga Sridhar Hyderabad | Updated on January 16, 2018

The Qualified Institutional Placement (QIP) issue of Bharat Financial Inclusion Ltd was oversubscribed multiple times.

The micro lender, which was formerly SKS Microfinance Ltd, had announced QIP issue on September 22 to raise Rs 750 crore. It was closed on Tuesday. The floor price of the issue was Rs 769.95, while the issue price was set at Rs 770 a share.

"The overwhelming response to the QIP is primarily on account of the conducive financial inclusion environment created due to the efforts of the Government and the Reserve Bank in the last few years," M R Rao, MD and Chief Executive Officer of Bharat Financial Inclusion, said in a release.

Bharat Financial Inclusion’s scrip was trading almost flat at Rs 859.90 on Wednesday.

Published on September 28, 2016

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