Indiabulls Real Estate Ltd allots 8,55,59,435 Equity Shares under QIP

The Fund Raising Committee of the Board of Directors of Indiabulls Real Estate Limited (the "Committee"), at its meeting held today i.e. April 12, 2022 (which commenced at 8:40 P.M. and concluded at 9:00 P.M.), has approved the closure of Qualified institutions placement today (i.e. April 12, 2022) pursuant to the receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers in accordance with the terms of the Issue.

The committee determined and approved, in accordance with the SEBI ICDR Regulations, the allocation of 8,55,59,435 Equity Shares at an Issue price of ₹ 101.10 per Equity Share (including a premium of ₹ 99.10 per Equity Share), which is at a discount of ₹ 5.28 per Equity Share i.e. 4.96% to the floor price of ₹ 106.38 per Equity Share, determined according to the formula prescribed under Regulation 176 of the SEBI ICDR Regulations, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

The board approved and finalised the confirmation of allocation note to be sent to eligible qualified institutional buyers, intimating them of the allocation of Equity Shares pursuant to the Issue; and refund intimation letter, to be sent to the bidders who are entitled to receive the refund amount, if any and approved and adopted the placement document dated April 12, 2022.

Shares of Indiabulls Real Estate Limited was last trading in BSE at Rs. 109.05 as compared to the previous close of Rs. 114.20. The total number of shares traded during the day was 554415 in over 4664 trades.

The stock hit an intraday high of Rs. 114.30 and intraday low of 108.35. The net turnover during the day was Rs. 61253739.00.

Source : Equity Bulls

Keywords

IndiabullsRealEstate INE069I01010 QIP FundRaising