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Arman Financial Services announced the successful undertaking of its Qualified Institutional Placement (QIP) by raising Rs 230 crore. The QIP saw interest from investors like WhiteOak, Sundaram Mutual Fund, UTI Mutual Fund, Kotak Life, amongst many others.
Post allotment of 10,47,835 equity shares at issue price of Rs 2195 per share of Rs 10 each, the paid up equity share capital has increased to 104,76,774 equity shares and the fully diluted net worth post allotment stands at Rs 733 crore.
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