Indiabulls Real Estate to raise US$200 million through GDR issue

Indiabulls Real Estate Ltd is contemplating raising additional equity capital or securities linked to equity shares, of approximately US Dollars 200 million with an option to retain oversubscription, through issuance of Global Depository Receipts (GDRs) pursuant to authorization received from its shareholders.

In connection with the above proposed equity capital raising, the Company has appointed Merrill Lynch as the Sole Book Runner.

The stock was trading at Rs.436, down by Rs.0.95 or 0.22%. The stock hit an intraday high of Rs.438.40 and low of Rs.422.20. The total traded quantity was 1534895 compared to 2 week average of 2477567.

Source : Equity Bulls

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