Home / Companies / News / Indiabulls Ventures to raise Rs 588 cr from six foreign investors

Indiabulls Ventures to raise Rs 588 cr from six foreign investors

"The total equity investment by the investors would aggregate to Rs 588 crore, equivalent to $80 million in the company," Indiabulls Ventures said

Tamil Nadu has borrowed close to a massive Rs 40,000 crore in four-and-a-half months, compared to Rs 17,000 crore last year

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Indiabulls Ventures shares settled at Rs 215 apiece on BSE, up 7.53 per cent from the previous close.

2 min read Last Updated : Aug 28 2020 | 10:12 PM IST

Indiabulls Ventures Ltd on Friday said it will raise Rs 588 crore by issuing preferential shares to certain foreign investors.

The decision was taken by the board of directors in a meeting held today (August 28, 2020), the company said in a regulatory filing.

The board approved the preferential offer and issue of an aggregate of up to 3,36,00,000 equity shares, approximately 5.5 per cent of the post preferential issue share capital of the company, at an issue price of Rs 175 per equity share, for cash consideration, to certain foreign investors, it said.

"The total equity investment by the

Topics : Indiabulls Ventures Preferential allotment Foreign investors capital infusion

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