Bharat Financial Inclusion raises Rs 749 cr from QIBs

Bharat Financial Inclusion Limited today said it has raised over Rs 749 crore via allotment of 97.40 lakh shares to qualified institutional buyers (QIBs).
The company, formerly known as SKS Microfinance, 9,740,259 equity shares to eligible qualified institutional buyers at the issue price of Rs 770 per equity share, it said in a filing to the BSE.
"At its meeting held on September 29, 2016, .. Committee approved the issue and allotment of 9,740,259 equity shares to eligible qualified institutional buyers at the issue price of Rs 770 per Equity Share (including a premium of Rs. 760 per equity share, against the floor price of Rs 769.95 ) aggregating to Rs 7,499,999,430," it said in a regulatory filing.

Shares of the company closed 2.91 per cent down at Rs 838.9 on BSE.