HDIL approves preferential issue of Rs. 150 crores

The Board of Directors of Housing Development and Infrastructure Ltd at its Meeting held on May 28, 2016 at 12:30 p.m. and concluded at 1:45 p.m. has considered to issue security up to US$ 350 million, subject to approval of the Members.

The Board considered Preferential offer and issue of upto Rs. 150 Crore in share warrants, convertible into equity shares of Face Value of Rs. 10/- each to Mr. Sarang Wadhawan, Promoter of the Company, subject to approval of the Members.

The Board appointed Mr. Ashok Kumar Gupta as Independent Director of the Company, subject to approval of the Members.

Shares of HOUSING DEVELOPMENT & INFRASTRUCTURE LTD. was last trading in BSE at Rs.97.15 as compared to the previous close of Rs. 98.25. The total number of shares traded during the day was 2774262 in over 11979 trades.

The stock hit an intraday high of Rs. 99.2 and intraday low of 94.1. The net turnover during the day was Rs. 268538716.

Source : Equity Bulls

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