Oracle Financial to raise up to $181 million through share sale

Oracle Financial Services Software Ltd , majority owned by Oracle Corp , plans to raise as much as 10 billion rupees through a share sale to institutional investors.

The founders plan to cut their stake in the company by 5.3% by selling as much as 4.4 million shares to meet the regulatory condition of having at least 25%  public shareholding for companies listed in India.

It has fixed the floor price at  Rs 2,275  per share for the issue which launches on Wednesday.

Earlier, real estate developer Puravankara Projects said it will raise $33 million through a share sale, while DLF Ltd raised $337 million earlier this month.