Rights Issue of Indiabulls Housing Finance Limited was oversubscribed over two times on the last day garnering more than Rs 7,500 crore.
The Rs 36,933.98 million rights issue received bids of 50,11,41,444 shares against offered 24,62,26,515 (“Rights Equity Shares”) of face value Rs 2 each (“Equity Shares”) with a rights issue price at Rs 150 per Rights Equity Share (including a premium of Rs 148 per Equity Share).
Investors will have to pay Rs 50.0 per Rights Equity Share which constitutes 33.3% of the Issue Price and the balance Rs 100.0 per Rights Equity Share which constitutes 66.7% of the Issue Price, will have to be paid, on one or more subsequent Call(s), as determined, from time to time at its sole discretion, by the Board or its Securities Issuance and Investment Committee.
The Rights entitlement ratio was One Equity Shares for every Two fully paid-up Equity Shares held by an Eligible Equity Shareholder of the Company as on the Record Date Thursday, February 1, 2024, for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (“Eligible Equity Shareholders”)
Out of the net proceeds from the Right issue, an amount of Rs 27,341.1 million for augmenting the capital base of the Company and amount of Rs 8,398.9 million from the net proceeds will be utilised for general corporate purposes.
