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JM Financial allots 6.5B rupees of shares

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.