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Oracle Fin To Raise $181 Mn

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Oracle Financial Services Software Ltd, majority owned by Oracle Corp, plans to raise as much as Rs 1,000 crore through a share sale to institutional investors.

The founders plan to cut their stake in the company by 5.3 per cent by selling as much as 4.4 million shares to meet the

regulatory condition of having at least 25 per cent public shareholding for companies listed in India. It has fixed the floor price at Rs 2,275 per share for the issue which launches on Wednesday.

Earlier, real estate developer Puravankara Projects said it will raise $33 million through a share sale, while DLF Ltd raised $337 million earlier this month.

(Reuters)