Tuesday, September 26, 2023
HomeNewsIndustry NewsIndiabulls Real Estate approves plan to raise up to Rs 1,500 crore

Indiabulls Real Estate approves plan to raise up to Rs 1,500 crore

Indiabulls Real Estate has approved the plan to raise up to Rs 1,500 crore to augment the long-term resources of the company and to maintain sufficient liquidity for meeting funding requirements for business activities, existing and new projects and future business growth, the company said in a BSE filing.

The board of directors of the company has approved raising of funds, aggregating upto Rs 1,500 crore through one or more Qualified Institutions Placement and/or any other permissible mode, in accordance with the ICDR Regulations and other applicable regulations, through public and/or private offerings of equity shares and/or any other convertible or exchangeable securities, including Global Depository Receipts, and/or American Depository Receipts and/or Foreign Currency Convertible Bonds, and/or Foreign Currency Exchangeable Bonds and/or warrants with or without non-convertible debentures with the rights exercisable by the warrant holders to exchange such warrants with equity shares and/or any other financial instruments/ securities convertible into or linked to equity shares, or any combination thereof, in one or more tranches and/or one or more issuances simultaneously or otherwise, it said in the regulatory filing.

The company would seek the requisite approval from its shareholders in due course.


Most Popular

Hot News