You are here: Home » News-CM » Equities » Hot Pursuit

Bharat Financial Inclusion gains after opening of QIP issue

Financial Inclusion rose 5.04% to Rs 852.50 at 13:05 on after the company announced that its qualified institutional placement issue opened on 22 September 2016.

The announcement was made after market hours yesterday, 22 September 2016.

Meanwhile, the S&P Sensex was down 15.98 points or 0.02% at 28,767.76.

More than usual volumes were witnessed on the counter. On BSE, so far 8.34 lakh shares were traded in the counter as against average daily volume of 2.24 lakh shares in the past one quarter. The stock hit a high of Rs 854.35 and a low of Rs 819.10 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 373.20 on 29 September 2015. The stock had outperformed the market over the past one month till 22 September 2016, gaining 8.42% compared with Sensex's 2.81% gains. The scrip also outperformed the market in past one quarter, gaining 18.01% as against Sensex's 7.5% gains.

The mid-cap company has equity capital of Rs 127.81 crore. Face value per share is Rs 10.

Financial Inclusion said that the capital raising committee of the board of directors at a meeting held on 22 September 2016 approved the opening of the offer of the proposed qualified institutions placement (QIP) of equity shares aggregating Rs 750 crore on 22 September 2016. The floor price of the offer was fixed at Rs 769.95 per share. The company may at its discretion offer a discount of up to 5% on the floor price in the offer.

Financial Inclusion said that the meeting of the capital raising committee of the board of directors will be held on 27 September 2016 to consider and approve the issue price for QIP.

Separately, Financial Inclusion announced after market hours yesterday, 22 September 2016, that the company issued commercial papers for an aggregate amount of Rs 100 crore on 22 September 2016, which have been rated 'A1+' by a leading rating agency. Instruments with A1+ rating are considered to have 'a very strong degree of safety regarding timely payment of financial obligations'. Such instruments carry the lowest credit risk. The aggregate commercial papers outstanding as on date is Rs 450 crore.

Financial Inclusion's net profit surged 285.7% to Rs 235.91 crore on 46.5% increase in total income to Rs 414.12 crore in Q1 June 2016 over Q1 June 2015.

Financial Inclusion is among the largest microfinance companies in India.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22
Business Standard

Bharat Financial Inclusion gains after opening of QIP issue

Capital Market 

Financial Inclusion rose 5.04% to Rs 852.50 at 13:05 on after the company announced that its qualified institutional placement issue opened on 22 September 2016.

The announcement was made after market hours yesterday, 22 September 2016.

Meanwhile, the S&P Sensex was down 15.98 points or 0.02% at 28,767.76.

More than usual volumes were witnessed on the counter. On BSE, so far 8.34 lakh shares were traded in the counter as against average daily volume of 2.24 lakh shares in the past one quarter. The stock hit a high of Rs 854.35 and a low of Rs 819.10 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 373.20 on 29 September 2015. The stock had outperformed the market over the past one month till 22 September 2016, gaining 8.42% compared with Sensex's 2.81% gains. The scrip also outperformed the market in past one quarter, gaining 18.01% as against Sensex's 7.5% gains.

The mid-cap company has equity capital of Rs 127.81 crore. Face value per share is Rs 10.

Financial Inclusion said that the capital raising committee of the board of directors at a meeting held on 22 September 2016 approved the opening of the offer of the proposed qualified institutions placement (QIP) of equity shares aggregating Rs 750 crore on 22 September 2016. The floor price of the offer was fixed at Rs 769.95 per share. The company may at its discretion offer a discount of up to 5% on the floor price in the offer.

Financial Inclusion said that the meeting of the capital raising committee of the board of directors will be held on 27 September 2016 to consider and approve the issue price for QIP.

Separately, Financial Inclusion announced after market hours yesterday, 22 September 2016, that the company issued commercial papers for an aggregate amount of Rs 100 crore on 22 September 2016, which have been rated 'A1+' by a leading rating agency. Instruments with A1+ rating are considered to have 'a very strong degree of safety regarding timely payment of financial obligations'. Such instruments carry the lowest credit risk. The aggregate commercial papers outstanding as on date is Rs 450 crore.

Financial Inclusion's net profit surged 285.7% to Rs 235.91 crore on 46.5% increase in total income to Rs 414.12 crore in Q1 June 2016 over Q1 June 2015.

Financial Inclusion is among the largest microfinance companies in India.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Bharat Financial Inclusion gains after opening of QIP issue

Bharat Financial Inclusion rose 5.04% to Rs 852.50 at 13:05 IST on BSE after the company announced that its qualified institutional placement issue opened on 22 September 2016.

Financial Inclusion rose 5.04% to Rs 852.50 at 13:05 on after the company announced that its qualified institutional placement issue opened on 22 September 2016.

The announcement was made after market hours yesterday, 22 September 2016.

Meanwhile, the S&P Sensex was down 15.98 points or 0.02% at 28,767.76.

More than usual volumes were witnessed on the counter. On BSE, so far 8.34 lakh shares were traded in the counter as against average daily volume of 2.24 lakh shares in the past one quarter. The stock hit a high of Rs 854.35 and a low of Rs 819.10 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 373.20 on 29 September 2015. The stock had outperformed the market over the past one month till 22 September 2016, gaining 8.42% compared with Sensex's 2.81% gains. The scrip also outperformed the market in past one quarter, gaining 18.01% as against Sensex's 7.5% gains.

The mid-cap company has equity capital of Rs 127.81 crore. Face value per share is Rs 10.

Financial Inclusion said that the capital raising committee of the board of directors at a meeting held on 22 September 2016 approved the opening of the offer of the proposed qualified institutions placement (QIP) of equity shares aggregating Rs 750 crore on 22 September 2016. The floor price of the offer was fixed at Rs 769.95 per share. The company may at its discretion offer a discount of up to 5% on the floor price in the offer.

Financial Inclusion said that the meeting of the capital raising committee of the board of directors will be held on 27 September 2016 to consider and approve the issue price for QIP.

Separately, Financial Inclusion announced after market hours yesterday, 22 September 2016, that the company issued commercial papers for an aggregate amount of Rs 100 crore on 22 September 2016, which have been rated 'A1+' by a leading rating agency. Instruments with A1+ rating are considered to have 'a very strong degree of safety regarding timely payment of financial obligations'. Such instruments carry the lowest credit risk. The aggregate commercial papers outstanding as on date is Rs 450 crore.

Financial Inclusion's net profit surged 285.7% to Rs 235.91 crore on 46.5% increase in total income to Rs 414.12 crore in Q1 June 2016 over Q1 June 2015.

Financial Inclusion is among the largest microfinance companies in India.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard