Indiabulls Financial to raise Rs 4000 Crores

Indiabulls Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on February 05, 2008, has decided to obtain the approval of the Members of the Company through Postal Ballot pursuant to Section 192A of the Companies Act, 1956 (the "Act") read with the Companies (Passing of Resolution by Postal Ballot) Rules, 2001 (the "Rules") for the fund raising proposal of the company.

The company is planning to rais funds of upto Rs 4,000 Crores in one or more tranches.

Issue of shares by International Offerings through an issue of convertible securities / ADRs / GDRs and FCCBs convertible into Equity Shares of the Company.

Issue of Equity Shares / Fully convertible Debentures (FCD) / Partly convertible Debentures (PCD) or any other securities other than warrants, which are convertible into or exchangeable with the equity shares at a later date of the Company to Qualified Institutional Buyers (QIB) within the meaning of Chapter XIII A of the SEBI (Disclosure & investor protection) Guidelines 2000 For Qualified Institutional Placement (SEBI DIP Guidelines).

Issue of Equity Shares / Fully convertible Debentures (FCD) / Partly convertible Debentures (PCD) / Optionally Convertible Debentures (OCD) / Debentures with right to subscribe to Equity Shares / Convertible / Non Convertible Preference Shares / Bonds / Non Convertible Debentures with detachable warrants / any other Financial instruments convertible or otherwise of the Company.

Source : Equity Bulls

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