Indiabulls Financial Services raises $200 mn via QIB

Domestic financial services major Indiabulls Financial Services today said it has raised nearly $200 million (about 966 crore) by private placement of shares with qualified institutional buyers (QIBs).

 The company has issued 5,61,40,350 shares at Rs 171 a piece aggregating to Rs 960 crore, Indiabulls Financial Services said in a filing to the Bombay Stock Exchange (BSE).

"The board of directors at their meeting has decided to close the bid period and approve the issuance of shares," the filing added.

Shares of Indiabulls Financial Services were trading at Rs 184.65, up 0.41 per cent on the BSE.