JM Financial Ltd. allotted 6.5 billion Indian rupees of equity shares to qualified institutional investors.
The company's board approved the allotment of 40,122,706 shares at 162 rupees apiece, according to a Feb. 6 filing with the Bombay Stock Exchange.
The offering raised the company's paid-up capital to 837.8 million rupees from 797.7 million rupees.
As of Feb. 6, US$1 was equivalent to 64.26 Indian rupees.
