14 , April , 2022
The Mumbai-based firm Indiabulls Real Estate Ltd (IBREL) has raised Rs 865 crore through issue of shares to institutional investors. The Qualified Institutional Placement (QIP) issue was launched on 7th March and was closed on 12th April.
IBREL, in a regulatory filing said that the fund-raising committee of the board of directors, at its meeting held on April 12, approved the issue and allotment of 8,55,59,435 equity shares to qualified institutional buyers at an issue price of Rs 101.10 per share, aggregating to a little over Rs 865 crore.
In the QIP issue, Authum Investment and Infrastructure Ltd, Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund, Copthall Mauritius Investment Ltd, Morgan Stanley Asia (Singapore), Societe Generale, and Baillie Gifford Pacific Fund were the participants.
The company's shares closed at Rs 108.70 apiece on BSE, down 0.32 per cent over previous close.
(WITH INPUTS TAKEN FROM PTI)
