Hemisphere Properties India Limited board approves issue of NCRPS on private placement basis

The Board of Directors of Hemisphere Properties India Limited at their Meeting held on Wednesday the 24th February, 2021.(i.e. today) has considered and approved the proposal to raise funds of Rs. 700 crore (Rupees Seven Hundred crore only) by issuing Non-Cumulative Redeemable Preference Shares (NCRPS) on private placement basis in one or more tranches to the Promoter i.e Government of India and conduct postal ballot for seeking approval of shareholders for aforesaid matter.

Source : Equity Bulls

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