Indiabulls Ventures Limited board approves preferential issue

The Board of Directors of Indiabulls Ventures Limited, at its meeting held today, i.e. August 28, 2020 (which commenced at 4:30 P.M. and concluded at 5:15 P.M.), has approved the preferential offer and issue of an aggregate of upto 3,36,00,000 (Three Crore Thirty Six Lac) fully paid up equity shares of face value of INR 2 each ('Equity Shares'), approx. 5.5% of the post preferential issue share capital of the Company, at an issue price of INR 175 for a Rs. 2 paid up share (including a premium of INR 173) per Equity Share, for cash consideration, to certain foreign investors.

The board approved the appointment of Mr. Sameer Gehlaut, as Chairman and Chief Executive Officer (CEO) of the Company.

The board also approved the re-designation of Mr. Divyesh B. Shah, as Chief Operating Officer (COO) of the Company.

Shares of Indiabulls Ventures Limited was last trading in BSE at Rs.215 as compared to the previous close of Rs. 199.95. The total number of shares traded during the day was 181430 in over 3062 trades.

The stock hit an intraday high of Rs. 217.9 and intraday low of 202.4. The net turnover during the day was Rs. 38365162.

Source : Equity Bulls

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