Mahindra Financial Services raises Rs1,056 crore via QIP
Mahindra Financial Services alloted 24 million shares of face value Rs2 each to qualified institutional buyers under the QIP at an issue price of Rs440 crore
New Delhi: Mahindra Financial Services Ltd has raised Rs1,056 crore through a qualified institutional placement (QIP) issue.
“The securities issue committee of the board of the directors of the company...has approved the allotment of 24,000,000 equity shares of face value of Rs2 each to qualified institutional buyers under the qualified institutions placement at the issue price of Rs440 per equity share aggregating Rs1,056 crore,” the company said in a BSE filing.
The Mahindra Financial QIP opened on 30 November and closed on 5 December.
On Thursday, Mahindra Financial Services shares rose 2.74% to Rs456.20 on the BSe while the benchmark Sensex surged 1.08% points to end the day at 32,949.21 points.
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