Oracle to raise up to $181 million from share sale

Oracle Financial Services Software Ltd , majority owned by Oracle Corp , plans to raise as much as Rs 1000 crores through a share sale to institutional investors.

Also read: OracleFinancial: Notice of offer of sale of shares by promoter

The founders plan to cut their stake in the company by 5.3 percent by selling as much as 4.4 million shares to meet the regulatory condition of having at least 25 percent 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 USD 33 million through a share sale, while DLF Ltd raised USD 337 million earlier this month.