Indiabulls Housing Finance announces closure of QIP issue

On 11 September 2015

Indiabulls Housing Finance announced that subsequent to the approval accorded by the shareholders of the Company under Section 42, 62 and other applicable provisions and rules, if any, of the Companies Act, 2013 and the rules made thereunder and the applicable provisions of the SEBI Regulations, at the 10th Annual General Meeting held on 07 September 2015, to issue and allot the Equity Shares, the duly authorized Securities Issue Committee of the Board of Directors of the Company has, at its meeting held on 11 September 2015, passed resolutions in connection with the following:

1. declaring the closure of the Issue, i.e. 11 September 2015;

2. the Floor Price for the Issue was approved to be Rs. 738.64 per Equity Share by the Securities Issue Committee by its resolution dated 08 September 2015. Considering a discount of upto 5% to the Floor Price (as authorised by the shareholders of the Company by its resolution dated 07 September 2015), the Securities Issue Committee approved the Issue price of Rs. 702 in connection with the Issue, to be allotted to eligible qualified institutional buyers in the Issue; and

3. approving and adopting the placement document dated 11 September 2015, in connection with the Issue (the "Placement Document").

Powered by Capital Market - Live News