Bharat Financial launches QIP to raise Rs. 750 Cr

On 22^nd Sept, Bharat Financial disclosed that the company will raise Rs. 750 crore via qualified institutional placement. At a meeting held on the previous day, the Capital Raising Committee of the board passed the resolutions to commission the opening of the offer on September 22, 2016, Bharat Financial reported in a regulatory filing. The spokesperson said that the company will raise Rs. 750 crore through the QIP launch. The company added that it has filed the preliminary placement document with the exchanges on Thursday. The floor price of the QIP offer is set at Rs. 769.95 per equity share. Furthermore, the company may at its discretion offer a discount of up to 5 per cent on the floor price. Bharat Financial Inclusion was previously known as SKS Microfinance Ltd.

Shares in Bharat Financial, on Thursday, settled 4.51 per cent higher at Rs. 811.60 a piece, whose benchmark Sensex index finished up 0.93 per cent.

Intraday on Friday, Bharat Financial share price soared by more than 3per cent on NSE, opened at Rs. 825 from a previous closing of Rs.812.30. Till now, the day’s high and low of the stock is seen at Rs. 839.80 and Rs. 817.20.

Bharat Financial is analyzed by Dynamic Levels as the top 500 performing stocks for the June quarter among the 1700 stocks which are listed on the NSE.  Bharat Financial is fundamentally strong and is safe for investment, as per Dynamic analysts.

The 52 week high value of Bharat Financial share price is touched at Rs. 939.00 on 29^th July ’16 whereas the 52 week low value is seen at Rs. 373.40 on 29^th Sept ‘15. The market cap of the company amounts to Rs. 10382.11 (Cr)  and has a book value of Rs. 108.25. Within few minutes after the commencement of today’s trading session, around 10,81,995  shares were exchanged in the counter with a traded volume of Rs. 8,999.17  lacs.

In order to know about the resistance and support levels of the stock, kindly visit Bharat Financial share price history. Here, you will also get more information on the fundamentals of the stock.