JM Financial had set a floor price of Rs161.44 per share for the institutional share sale, according to the company’s filing with the stock exchanges on Tuesday. Mumbai: Financial services firm JM Financial Ltd has raised $100 million (Rs650 crore) through a qualified institutional placement (QIP) offering which opened on Tuesday, two people aware of the development said. Emails sent to JM Financial did not elicit any response. Ltd advised JM Financial on the share sale. Shares of JM Financial rose 0.87% to Rs162.9 on BSE, while the benchmark Sensex declined 0.19% to 35,965.02 points.

Source: Mint January 31, 2018 16:07 UTC