Indiabulls Real Estate raises Rs 865 cr via QIP issue

21 Apr 2022 , 01:32 AM

Indiabulls Real Estate announced that it has successfully completed a capital raise of Rs 865 crore US$ 114 million at Rs 10110 per equity share through Qualified Institutional Placement Trading of these shares will commence today ie 18 April 2022 on NSE and BSE The fund-raising committee of the Board of Directors of the Company approved the issuance and allotment of 85559435 new equity shares through this Institutional Placement The Placement issue price of Rs 10110 per equity share represents a discount of 496Percentage to the applicable floor price of Rs 10638 per equity share calculated in accordance with applicable SEBI regulations The fund raise resulted in an overall 158Percentage dilution for current shareholders The Institutional Placement was launched on 07 April 2022 and witnessed strong response from both existing as well as new institutional investors including global and domestic funds with nearly ~50Percentage of the demand from new investors and 70Percentage of the book allocated to long only investors