Indiabulls Share Price Gains 4% Today; Check Details Here
Indiabulls share price remained in focus on Monday after the company’s board approved a ₹1,000 crore fund raise through the preferential iss...
Indiabulls share price remained in focus on Monday after the company’s board approved a ₹1,000 crore fund raise through the preferential issuance of convertible warrants. The stock surged nearly 4% during intraday trade to touch ₹30.05. The stock has touched a 52-week high of ₹32.50 and a 52-week low of ₹8.90.
Indiabulls Board Approves ₹1,000 Crore Fund Raise
Indiabulls Ltd informed the stock exchanges that its Board of Directors has approved the issuance of up to 51.55 crore convertible warrants on a preferential basis.
The warrants will be issued at a price of ₹19.40 per warrant, including a premium of ₹17.40 per equity share, aggregating approximately ₹1,000.07 crore. Each warrant will be convertible into one fully paid-up equity share of the company and may be exercised in one or more tranches within 18 months from the date of allotment.
