Nearly 110 million shares of the company were issued at Rs 70 per share under the QIP programme
The company said the issue was subscribed by both domestic as well as foreign investors
The issue, rated by both Crisil and Icra, will be listed on the BSE, and is managed by AK Capital Services, JM Financial and Trust Investment Advisors.
It is reassuring to see that the deficit target was kept within expected lines and 10 per cent growth in nominal gross domestic product is projected
Experts believe the lower tax rate is a significant contributor in making India's debt market attractive to overseas investors
Sheth further said they will also be tapping the customers from those developers whom it funds now to grow the loan book
The stock had hit a 52-week high of Rs 100 on November 22
Initially the platform will be to collect fixed deposits for HDFC, Bajaj Finance, and Mahindra Finance, he said, which will be scaled up later and will work on a fee- based model
The company has appointed JM Financial as the investment banker on the deal
Atul Saraogi is son-in-law of Vimala Devi Kalantri, according to Sebi's order
The move will help lenders get a better valuation, said an official at one of the lending firms. The case is likely to come up before the NCLT Bench by middle of next month
The issue will open on November 20 and close of December 20
The fund raising, which comes at a time the NBFC sector is going through turmoil, will give comfort to investors and may help in improving the sentiment
Meanwhile, Bank of Baroda has put on sale its exposure to Hotel Leelaveture, worth Rs 464.5 million
In-house research and development has already come up with an electric axle and has showcased the device for three-wheelers
The average AUM of our mutual fund schemes during the quarter ended December 31, 2017 stood at Rs 166 bn
Interview with Suhas Harinarayan, Managing Director, Institutional Equities, JM Financial
Earlier on October 20, the company had disclosed its plan of about buying the stake in Mumbai-based IHL
IHL is a housing finance company which offers retail home loan product for affordable housing segment