Indiabulls Financial to raise up to 4.5 billion rupees via share sale

MUMBAI (Reuters) - Indiabulls Financial Services Ltd has launched a share sale for institutional investors to raise up to 4.48 billion rupees, according to a term sheet obtained by Reuters.

Indiabulls will sell shares at a price range of 283.5 rupees to 298.5 rupees, up to 5 percent discount to its Thursday's close, as per the document.

Bank of America Merrill Lynch is the sole book runner to the transaction.

(Reporting by Abhishek Vishnoi and Indulal PM; Editing by Anand Basu)