The board of Indiabulls Ventures on Monday approved a rights issue for ₹2,000 crore. The company plans to issue up to 8.33 crore partly paid-up equity shares of face value ₹2 each for cash at a price of ₹240 a share on rights basis to eligible equity shareholders of the company.

The entitlement ratio has been pegged at three rights equity shares for every 16 fully paid-up equity shares held by the shareholders The record date to identify the eligibility of the shareholders is February 12, the company said. Shares of Indiabulls Ventures closed at ₹241.4 against the previous day’s close of ₹236.4, up 2 per cent, on the NSE. Our Bureau