Indiabulls Real Estate allots 1.435 crore equity shares for Rs 2656.49 crore

Indiabulls Real Estate Ltd has now announced with reference to the earlier announcements dated May 18, 2009 and May 20, 2009 in respect of issue of Equity shares of face value Rs 2 each in the Company ("Equity Shares") to QIBs under Qualified Institutions Placement in terms of Chapter XII-A of SEBI Guidelines, that the duly authorised Committee of the Board of Directors of the Company at its meeting held on May 22, 2009, has issued and allotted 14,35,94,593 fully paid-up Equity Shares, at a price of Rs 185 per Equity Share (including a premium of Rs 183 per Equity Share), aggregating to Rs 26,56,49,99,705 (Rupees Two Thousand Six Hundred Fifty Six Crore Forty Nine Lac Ninety Nine Thousand Seven Hundred and Five only).

Consequent to the issue and allotment of the Equity Shares as aforesaid, the Paid-up Equity Share Capital of the Company stands increased from the present Rs 51,50,41,292/- divided into 25,75,20,646 Equity shares of face value Rs 2/- each, to Rs 80,22,30,478/- divided into 40,11,15,239 Equity shares of face value Rs 2/- each.

The stock closed on Friday at Rs.209.40, up by Rs.4.10 or 2%. The stock hit an intraday high of Rs.213.80 and low of Rs.202.85.

The total traded quantity was 3445740 compared to 2 week average of 5426905.

Source : Equity Bulls

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