Indiabulls placing sees strong foreign demand

The new constituent stock of the MSCI India Index executed the second-largest QIP in India this year.
Indiabulls Housing Finance has raised a total of $600 million via a qualified institutional placement, helped by this week's rally in global equities and strong international interest following the stock's inclusion in the MSCI India Index.
 
The discounted QIP, which was only approved by shareholders on Monday, was increased by $100 million after the housing lender exercised an upsize option, sources close to the deal told FinanceAsia on Wednesday.
 
Investor sentiment turned positive on Tuesday as rattled Asian stock markets rebounded, with India's benchmark Sensex index gaining...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222