MUMBAI 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
The United States and India have held talks about conducting joint naval patrols that a U.S. defence official said could include the disputed South China Sea, a move that would likely anger Beijing, which claims most of the waterway. Story