| Log in
Bharat Financial Photo Credit: Shah Junaid/VCCircle

Bharat Financial Inclusion raises $112 mn via institutional share sale

By PTI
28 September, 2016

Bharat Financial Inclusion’s Rs 750 crore QIP closed today and was oversubscribed multiple times.

“The qualified institutional placement (QIP) which was launched with the issue size of Rs 750 crore (approximate), generated a strong demand and was multiple times oversubscribed,” it said in a release.

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, Bharat Financial Inclusion Ltd said.

He further said the company’s ‘Customer Is the Strategy’ approach, resulted in significant gains for customers including the lowest global mirco finance lending lending rate of 19.75 per cent.

Formerly known as SKS Microfinance, Bharat Financial Inclusion launches had on September 22 announced to launch the QIP to raise Rs 750 crore.

Shares of the company closed 0.74 per cent higher at Rs 856.10 on BSE.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Exclusive: Bharat Financial Inclusion hires three bankers for fundraise

Exclusive: Bharat Financial Inclusion hires three bankers for fundraise

Bruhadeeswaran R 1 year ago
Bharat Financial Inclusion Ltd has hired three investment banks to help it raise...
SKS Microfinance QIP issue oversubscribed; Company raises $42M

SKS Microfinance QIP issue oversubscribed; Company raises $42M

Bhawna Gupta 5 years ago
SKS Microfinance Ltd  has closed its qualified institutional placement ),...
SKS Microfinance raises around $68M through QIP issue

SKS Microfinance raises around $68M through QIP issue

Anuradha Verma 4 years ago
India’s lone-listed micro lender SKS Microfinance Limited has raised Rs 400...
No Comments

Bharat Financial Inclusion raises $112 mn via institutional share sale

Powered by WordPress.com VIP