Financial services provider Indiabulls Financial Services Ltd today said that it has raised over Rs 959.99 crore by allotting equity shares to qualified institutional buyers on preferential basis.

The committee of the board of directors approved allotment of over 5.61 crore-equity shares with Rs 2 face value at a price of Rs 171 per share, Indiabulls Financial Services said in a filing to the Bombay Stock Exchange.

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The shareholders had already approved the allotment to QIBs under qualified institutions placement as per SEBI Guidelines at its extraordinary general meeting on July 18, it said.

Shares of the company closed at Rs 189.05, down 1.05 per cent from the previous close on the BSE.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end on a strong note - Nabard FY14 operating surplus soars 28% to Rs 1,635 cr - RBI eases banks' term deposit restrictions - NMDC Q4 net down 21.74% to Rs 1,642.28 cr - Balrampur Chini Q4 profit up by 15%

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