Indiabulls Housing Finance Ltd approves closure of Qualified Institutional Placement

Subsequent to the approval accorded by the shareholders of Indiabulls Housing Finance Ltd under Section 42, 62 and other applicable provisions and rules, if any, of the Companies Act, 2013 and the rules made thereunder and the applicable provisions of the SEBI Regulations, at the 10th Annual General Meeting held on September 7, 2015, to issue and allot the Equity Shares.

The duly authorized Securities Issue Committee of the Board of Directors of the Company has, at its meeting held on September 11, 2015, declared the closure of the Issue today, i.e. September 11, 2015 and the Floor Price for the Issue was approved to be Rs. 738.64 per Equity Share by the Securities Issue Committee by its resolution dated September 8, 2015. Considering a discount of upto 5% to the Floor Price (as authorised by the shareholders of the Company by its resolution dated September 7, 2015), the Securities Issue Committee approved the Issue price of Rs. 702 in connection with the Issue, to be allotted to eligible qualified institutional buyers in the Issue.

The committee also approved and adopted the placement document dated September 11, 2015, in connection with the Issue (the "Placement Document").

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.729.85 as compared to the previous close of Rs. 724.25. The total number of shares traded during the day was 44356 in over 2325 trades.

The stock hit an intraday high of Rs. 733.5 and intraday low of 724.9. The net turnover during the day was Rs. 32358791.

Source : Equity Bulls

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