According to JM Financial’s stock exchange filings, the company is seeking shareholder approvals for the QIP through a postal ballot, which closes on 29 January. Mumbai: JM Financial Ltd has started work on its qualified institutional placement (QIP) offering that could see the company raise as much as $100 million, three people aware of the development said. “JM Financial’s board had last month approved raising of funds through sale of fresh equity shares. Emails sent to JM Financial and IDFC Bank did not elicit any response till the time of going to press. Shares of JM Financial rose 0.78% to Rs168.2 on BSE, while the benchmark Sensex climbed 0.73% to 34,843.51 points.

Source: Mint January 15, 2018 18:11 UTC