HDIL to issue shares to promoters

HDIL, the country's third largest developer today said it will allot 13 million shares to its promoters against the convertible warrants issued to them in July 2009.

The company said it will invest in the shares of BKC Developers, thereby making it as subsidiary of the company. HDIL said its board has also approved request received from erstwhile promoters Kapil Wadhawan and Dheeraj Dheeraj Wadhawan as the promoters of the company.