Indiabulls Financial Result of Postal Ballot approves issue of shares to Crown Capital Ltd

Indiabulls Financial Services Ltd has announced that shareholders of the Company, by way of Postal Ballot, have passed the Special Resolutions with requisite majority authorizing the Board of Directors of the Company under Section 81(1A) and other applicable provisions, if any, of the Companies Act, 1956 to issue and allot to Crown Capital Ltd, a SEBI registered sub-account of Deutsche International Trust Corporation (Mauritius) Ltd, a foreign institutional investor (FII) registered with SEBI, on preferential allotment basis, up to 72,50,000 Equity Shares of face value of Rs 2 each for cash at a price of Rs 417 per share aggregating Rs 302,32,50,000. Crown Capital Ltd is a wholly-owned subsidiary of Sovereign Global Investment Ltd.

Source : Equity Bulls

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