Stocks

Bharat Financial shares gain on QIP issue

Our Bureau Hyderabad | Updated on January 16, 2018 Published on September 23, 2016

Bharat Financial Inclusion Ltd’s scrip gained 4.48 per cent on the Bombay Stock Exchange on Friday and was trading at Rs 848 by noon.

The micro lender, which was formerly SKS Microfinance Ltd, had on Thursday launched a qualified institutional placement issue.

The capital raising committee of the board has passed the resolution to authorise the opening of the offer on September 22, 2016, the company said in a filing to the BSE.

The floor price of QIP offer has been set at Rs 769.95 per equity share. The company is expected to raise Rs 750 crore.

The capital committee will meet on September 27, 2016 to consider and approve the issue price of equity shares, the BSE was informed.

Published on September 23, 2016

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