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Mumbai, May 16

Indiabulls Real Estate Ltd said the board of directors on May 15 has allotted 1.67 crore equity shares of face value Rs 2 each, credited as fully paid-up, as underlying and representing 1.67 crore Global Depository Receipts. Consequent to this issue, the company’s paid-up equity share capital increased from Rs 48.17 crore, divided into 24.08 crore equity shares of face value Rs 2 each, to Rs 51.50 crore ( 25.75 crore shares). The company informed the BSE that the iss ue of the equity shares underlying and representing the GDRs was in terms of a scheme of arrangement providing for acquisition by the company of 100 per cent ordinary shares of Dev Property Development Plc, an Isle of Man registered company. —

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