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Indiabulls Real Estate to consider fundraise on December 22; stock under pressure

Indiabulls Housing Finance has extended the Tranche I Issue Closing date being December 31, 2021, related to the issue of NCDs.

December 20, 2021 9:26 IST | India Infoline News Service
Indiabulls Real Estate Limited on December 22 will consider raising funds through the issue of equity shares and/or any other convertible or exchangeable securities.

“The Board of Directors of the Company is scheduled on December 22, 2021, to consider and approve raising of funds through issue of equity shares and/or any other convertible or exchangeable securities, subject to the approval of the members of the company, and other regulatory and/or statutory approvals, as applicable. The Trading Window for dealing in securities of the Company has been closed and shall remain closed till further instructions,” the company said in a filing on Friday.

At around 9.30 am, Indiabulls Real Estate Ltd was trading at Rs152.60 per piece down by Rs4.5 or 2.86% from its previous closing of Rs157.10 per piece on the BSE.

Meanwhile, sister concern Indiabulls Housing Finance Limited has extended the Tranche I Issue Closing date being December 31, 2021 related to issue of NCDs.

“Pursuant to the resolution of the Securities Issuance Committee of Indiabulls Housing Finance Limited dated December 03, 2021, the shelf prospectus and tranche I prospectus (in relation to the public issue of secured, redeemable, non-convertible debentures of face value of Rs1,000 each (NCDs) for an amount up to Rs200cr with an option to retain oversubscription up to Rs800cr, aggregating up to Rs1,000cr, which is within the shelf limit of Rs2,000cr, including the Tranche I Issue opening date being December 09, 2021 and the Tranche I Issue closing date being December 20, 2021 was approved. It has now been resolved by the Securities Issuance Committee that the Tranche I Issue will be further extended with the Tranche I Issue Closing date being December 31, 2021,” Indiabulls Housing Finance said on Saturday.

Indiabulls Housing Finance Ltd was trading at Rs225.20 per piece down by Rs7.9 or 3.39% from its previous closing of Rs233.10 per piece on the BSE.

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