Bharat Financial Inclusion said the company will raise Rs 750 crore via qualified institutional placement (QIP) offer.
The Capital Raising Committee of the board of the company at a meeting held passed the resolutions to authorise the opening of the offer today i.e., September 22, 2016, the company said in a regulatory filing.
"The company will raise Rs 750 crore through the QIP launch," a company spokesperson said.
Bharat Financial said it has filed the preliminary placement document with the exchanges.
The floor price of the QIP offer has been set at Rs 769.95 per equity share.
"The company may at its discretion offer a discount of up to 5 percent on the floor price," it said.
Bharat Financial Inclusion was formerly known as SKS Microfinance Ltd.
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