Indiabulls Financial Services has reportedly raised Rs 448 crore through issue of share to institutional investors. The company has sold shares at a price range of Rs 283.5 to Rs 298.5, up to 5% discount on February 7, 2013. Bank of America Merrill Lynch is the sole book runner to the transaction.
On the consolidated basis, the company reported 30.78% rise in its net profit at Rs 323.55 crore for the third quarter as compared to Rs 247.40 crore for the same quarter in the previous year. Total income of the company increased by 25.60% at Rs 1220.58 crore for quarter under review as compared to Rs 971.80 crore for the quarter ended December 31, 2011.
