Indiabulls Housing Finance Limited announces QIP floor price as Rs. 206.70

Subsequent to the approval accorded by the board of directors of Indiabulls Housing Finance Limited (the "Company"), at its meeting held on July 3, 2020 and the special resolution passed by the shareholders of the Company on July 29, 2020, the Securities Issuance Committee ("Committee") has, at its meeting held today i.e. on September 9, 2020, have approved and adopted the preliminary placement document dated September 9, 2020 and the application form dated September 9, 2020 in connection with the Issue.

The committee authorised the opening of the Issue today i.e. on September 9, 2020 and approved the floor price for the Issue.

The 'Relevant Date' for the purpose of the Issue, in terms of the SEBI ICDR Regulations, is September 9, 2020 and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs. 206.70 per Equity Share. Pursuant to the SEBI ICDR Regulations, the Company may offer a discount of not more than 5% on the floor price so calculated for the Issue.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.201.15 as compared to the previous close of Rs. 202.25. The total number of shares traded during the day was 1984568 in over 23105 trades.

The stock hit an intraday high of Rs. 202.7 and intraday low of 193.2. The net turnover during the day was Rs. 394387081.

Source : Equity Bulls

Keywords