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JM Financial launches QIP to raise $100 mn

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MUMBAI : Financial services firm JM Financial Ltd on Tuesday said that it is launching a institutional share sale through the so-called qualified institutional placement (QIP) offering, to raise approximately $100 million.QIP is a tool used by listed companies to sell shares or other securities, which are convertible into stocks, to qualified institutional buyers such as mutual funds.JM Financial has set a floor price of Rs66.72 per share for the QIP offering.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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