Mumbai: Indiabulls Financial Services was selling shares to institutions at Rs171 to raise $200 million, two sources familiar with the matter said on Monday.
“We have almost raised the lot,” said a source who spoke on condition of anonymity.
The share sale was approved by the board earlier on Monday. The deal is being arranged by Morgan Stanley.
Indiabulls shares ended 1.7% up at Rs184.05 in a Mumbai market that rose 3%.