Hubtown Limited has issued a regulatory filing confirming that the company will utilise Rs 150 crore from its ongoing preferential share issue specifically for the repayment or prepayment of secured loans.
The disclosure, made under Regulation 30 of SEBI (LODR) 2015, states that Hubtown is raising funds through a preferential issue of 1,46,80,249 fully paid-up equity shares at an issue price of Rs 341 per share, aggregating to Rs 500.59 crore.
As per the company’s confirmation, the earmarked Rs 150 crore will be used exclusively to reduce existing secured borrowings, and no portion of this amount will be diverted towards repayment of unsecured loans. The company said this clarification is intended to ensure “transparency and compliance with applicable regulatory requirements.”
The filing has been submitted to both BSE and NSE, where Hubtown is listed under the codes 532799 and HUBTOWN, respectively
