Bharat Financial Inclusion Ltd approves closure of Qualified Institutional Placement

Bharat Financial Inclusion Ltd has announced regarding the QIP offer. The Capital Raising Committee of the Board has, at its meeting held on September 27, 2016, has declared the closure of the issue period for the Offer on September 27, 2016.

The Board determined and approved 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 which was determined as per the formula prescribed under Regulation 85(1) of the SEBI Regulations for the Equity Shares to be allotted to eligible qualified institutional buyers in the Offer and approved and adopted the placement document dated September 27, 2016, in connection with the Offer (the "Placement Document").

Shares of Bharat Financial Inclusion Ltd. was last trading in BSE at Rs.856.1 as compared to the previous close of Rs. 849.8. The total number of shares traded during the day was 186014 in over 5813 trades.

The stock hit an intraday high of Rs. 867.95 and intraday low of 851.95. The net turnover during the day was Rs. 159840999.

Source : Equity Bulls

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