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Preferential issue of Shares & Warrants (EGM on July 20, 2015)

| Updated on June 21, 2015 Published on June 21, 2015

Indiabulls Real Estate Ltd has informed BSE that to augment the long-term resources of the Company for meeting funding requirements for its business purposes, and as a reflection of confidence that the promoters have in the future of the Company, the Board of Directors of the Company, at its meeting held June 20, 2015, has inter alia approved the preferential offer and issue of up to 3,67,00,000 (three crore sixty seven lac) equity shares of Rs. 2 each and up to 4,36,00,000 (four crore thirty six lac) warrants, convertible into equivalent number of equity shares of Rs. 2 each to the promoter group entities at an issue/conversion price of Rs. 67 per share, which is at a premium of above 59% on yesterday’s closing market price of Rs. 42.05 at BSE. The total equity investments by the promoters would amount to Rs. 538 crore in the Company, post conversion of warrants.

The above proposal is in accordance with Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009, as amended, and subject to the approval of the shareholders of the Company, for which the Board has convened an Extraordinary General Meeting of its Shareholders on July 20, 2015 to consider inter alia the above proposal.

Source : BSE - >www.bseindia.com

Published on June 21, 2015
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