Indiabulls Financial to issue 7,250,000 shares to Crown Capital Ltd

Indiabulls Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on November 07, 2006, pursuant to the receipt of Shareholders approval by a Special Resolution passed through Postal Ballot on November 02, 2006, issued and allotted on a preferential basis, 7,250,000 fully paid-up Equity Shares of face value Rs 2/- each in the Company at an issue price of Rs 417/- per Equity Share, aggregating Rs 3,023,250,000/- to Crown Capital Ltd, a SEBI-registered sub-account of Deutsche International Trust Corporation (Mauritius) Ltd, a Foreign Institutional Investor (FII) registered under the SEBI (Foreign Institutional Investors) Regulations, 1995. Crown Capital Ltd is a wholly-owned subsidiary of Sovereign Global Investment Ltd.

Source : Equity Bulls

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