Indiabulls Housing Finance Limited raises funds aggregating to ₹ 682.87 Crores through QIP

The Securities Issuance Committee ("Committee") of Indiabulls Housing Finance Limited in its meeting held on September 14, 2020 has, approved the closure of the issue period for the Issue today i.e. September 14, 2020 pursuant to the receipt of application forms for an aggregate of 3,47,74,811 fully paid up Equity Shares of the Company and the funds in the escrow account from eligible qualified institutional buyers in accordance with the terms of the Issue, which opened on September 9, 2020.

The committee determined and approved the issue price of ₹ 196.37 per Equity Share (including a premium of ₹ 194.37 per Equity Share), which is at a discount of 5% (i.e. ₹ 10.33 per Equity Share) to the floor price of ₹ 206.70 per Equity Share determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

The committee also approved and finalized the confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the Issue.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.189.4 as compared to the previous close of Rs. 198.65. The total number of shares traded during the day was 880462 in over 11316 trades.

The stock hit an intraday high of Rs. 200.45 and intraday low of 188.2. The net turnover during the day was Rs. 169756527.

Source : Equity Bulls

Keywords