Indiabulls Financial to raise up to Rs 450 cr via share sale

Indiabulls Financial Services Ltd has launched a share sale for institutional investors to raise up to Rs 448 crore, according to a term sheet obtained by Reuters.

Indiabulls will sell shares at a price range of Rs 283.5 to Rs 298.5, up to 5% discount to its Thursday's close, as per the document.

Bank of America Merrill Lynch is the sole book runner to the transaction.