Indiabulls Housing allots equity shares worth Rs 682 crore through QIP

Indiabulls Housing Finance today announced the allotment of Qualified institutions placement (QIP) of equity shares of face value Rs. 2 each to the tune of Rs 682 crores.

Indiabulls Housing Finance today announced the allotment of Qualified institutions placement (QIP) of equity shares of face value Rs. 2 each to the tune of Rs 682 crores.

The Issue opened on September 9, 2020 and closed on September 14, 2020.

The Gurugram based lender announced on Tuesday through its BSE regulatory filing. Please note that the Securities Issuance Committee (the “Committee”) has, at its meeting held today i.e. September 15, 2020, approved the issue and allotment of 3,47,74,811 fully paid-up Equity Shares of face value Rs. 2 each (the “Equity Shares”) to eligible qualified institutional buyers at the issue price of ₹ 196.37 per Equity Share (including a premium of ₹ 194.37 per Equity Share, which includes a discount of 5.00% on the floor price of ₹ 206.70 per Equity Share), aggregating to ₹ 682,87,29,636.07 (Rupees Six Hundred Eighty Two Crores Eighty Seven Lacs Twenty Nine Thousand Six Hundred Thirty Six and Seven Paisa only), pursuant to the Issue.

“Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased to ₹ 92,46,97,804 comprising of 46,23,48,902 Equity Shares. The shareholding pattern of the Company, before and after the Issue, will be submitted along with the listing application in the format specified in Regulation 31 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”).”

Societe Generale – ODI and HSBC Pooled Asia Pacific Ex Japan Equity Fund were allotted 15.05% and 14.25% of the issue respectively.

The meeting of the Board Committee commenced at 3:30 P.M. and concluded at 4:00 P.M on September 15, 2020.

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