MUMBAI (Reuters) - Indiabulls Financial Services Ltd (IBUL.NS) has launched a share sale for institutional investors to raise up to 4.48 billion rupees, according to a term sheet obtained by Reuters.
Indiabulls will sell shares at a price range of 283.5 rupees to 298.5 rupees, up to 5 percent discount to its Thursday's close, as per the document.
Bank of America Merrill Lynch is the sole book runner to the transaction.
(Reporting by Abhishek Vishnoi and Indulal PM; Editing by Anand Basu)
Trending On Reuters
HCL Technologies Ltd, India's fourth-largest software services exporter by revenue, reported a 3.6 percent rise in quarterly net profit on Tuesday, lagging street estimates as margins dropped due to currency volatility. Full Article | Quote