Indiabulls Real Estate allots 28700000 warrants

Indiabulls Real Estate Ltd has announced that pursuant to and in terms of shareholders' authorisation through Postal Ballot on August 12, 2010, the Board of Directors of the Company at its meeting held on August 26, 2010, has issued and allotted an aggregate of 2,87,00,000 (Two Crore Eighty Seven Lac) warrants, convertible into an equivalent number of Equity shares of face value Rs. 2 each, to the Promoter Group Entities, Directors and Key Management Personnel of the Company.

The stock closed the day at Rs.174.20, down by Rs.5.50 or 3.06%. The stock hit an intraday high of Rs.180.20 and low of Rs.172.50.

The total traded quantity was 424588 compared to 2 week average of 705408.

Source : Equity Bulls

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