Bharat Financial Inclusion launches QIP to raise Rs 750 cr

Bharat Financial Inclusion today said the company will raise Rs 750 crore via qualified institutional placement (QIP) offer.
The Capital Raising Committee of the board of the company at a meeting held today passed the resolutions to authorise the opening of the offer today i.E., September 22, 2016, the company said in a regulatory filing.
"The company will raise Rs 750 crore through the QIP launch," a company spokesperson said.
Bharat Financial said it has filed the preliminary placement document with the exchanges today.
The floor price of the QIP offer has been set at Rs 769.95 per equity share.

"The company may at its discretion offer a discount of up to 5 per cent on the floor price," it said.
Bharat Financial Inclusion was formerly known as SKS Microfinance Ltd.
Shares of the company closed 4.51 per cent higher at Rs 811.60 on BSE.