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Dhani Services raises Rs 147 cr by issuing shares to foreign investor

Dhani Services, formerly Indiabulls Ventures, on Tuesday said it has raised Rs 147 crore by issuing 8.4 million shares to a foreign investor

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Dhani Services Ltd, formerly Indiabulls Ventures Ltd, on Tuesday said it has raised Rs 147 crore by issuing 84 lakh shares to a foreign investor.

The investor, NWI Emerging Market Fixed Income Master Fund Ltd, is one of the group entities of NWI Management, a New York-based investment fund.

The allotment committee of the board of directors, at its meeting held on October 6, 2020 has issued and allotted an aggregate of 84,00,000 fully paid-up equity shares of face value of Rs 2 each at an issue price of Rs 175 per equity share, for cash consideration, to the foreign investor, it said in a regulatory filing.

Consequent to the said allotment, the paid-up equity share capital of the company stands increased to Rs 114.54 crore, it said.