Bharat Financial Inclusion Raises Rs 749 Crore

New Delhi: Bharat Financial Inclusion Ltd on Thursday 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, issued 9,740,259 equity shares to eligible qualified institutional buyers at the 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 in the company closed 2.91 per cent lower at Rs 838.9 apiece on the BSE, whose benchmark Sensex index finished down 1.64 per cent.