Bharat Financial Inclusion launches up to $113 million share sale

Ahead of the announcement, Bharat Financial Inclusion shares closed 4.3% higher at 812.30 rupees

Micro lender Bharat Financial Inclusion Ltd has launched a share sale to institutions to raise up to 7.5 billion rupees ($112.7 million), the company said on Thursday.

Bharat Financial Inclusion, formerly named SKS Microfinance, is selling the shares in a price range of 740 rupees to 770 rupees apiece, IFR, A Thomson Reuters publication, reported.

Ahead of the announcement, Bharat Financial Inclusion shares closed 4.3 per cent higher at 812.30 rupees.

Credit Suisse, Kotak Mahindra, Motilal Oswal and Yes Securities were the arrangers for the share sale, IFR said.