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Bharat Financial Inclusion closes QIP offer

BharatFinancial Inclusion Ltd. said Sept. 27 that the issue period forits qualified institutional placement offer has closed.

The QIP offer was multiple times oversubscribed. Followingthe placement, Bharat Financial Inclusion expects its net worth to reach 23.56billion Indian rupees from 16.27 billion rupees as of June 30.

The shares were priced at 770 rupees per equity share,higher than the floor price of 769.95 rupees per share.

As of Sept. 28, US$1was equivalent to 66.49 Indian rupees.