Arman Financial Raises Rs 230 Crore Via QIP

Arman Financial Services Ltd. has raised Rs 230 crore via qualified institutional placement.

The company's board approved the allocation of 10.47 lakh shares at an issue price of Rs 2,195 apiece, which is a discount of 4.96% to the floor price, it said in its exchange filing.

The company also approved confirmation of the allocation note that is to be sent to investors of the QIP, intimating them of the allocation of equity shares, it said.

Shares of Arman Financial Services closed 1.42% lower at Rs 2,604 apiece on the NSE, as compared with a 0.44% advance in the benchmark Nifty 50.