Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stake Sale

| More

Indiabulls Ventures Ltd approves preferential issue of CCDs

Posted On: 2018-10-24 10:29:36

To capitalize and fund Indiabulls Consumer Finance Limited (formerly known as IVL Finance Limited) and Indiabulls Asset Reconstruction Company Limited, the subsidiaries of the Company, for meeting their business requirements and to support the future growth of their businesses and to further augment the long-term financial resources of the Company and such other purposes, as may be determined by the Board from time to time, the Board of Directors of the Company (the "Board"), at its meeting held today i.e. October 24, 2018 (which commenced at 8.00 A.M. and concluded at 8.45 A.M.), has considered and approved, preferential offer and issue (the "Preferential Issue") of compulsorily convertible debentures ("CCDs") for an aggregate amount of upto INR 15,392,000,000/- (Rupees One Thousand Five Hundred Thirty Nine Crores and Twenty Lacs only), to certain foreign investors (the "Foreign Investors"), as detailed hereunder:

Tamarind Capital Pte. Ltd. Upto INR 7,400,000,000/-
Steadview Capital Mauritius Ltd. Upto INR 6,142,000,000/-
ABG Capital Upto INR 1,258,000,000/-
DF International Partners Upto INR 592,000,000/-
TOTAL Upto INR 15,392,000,000/-

These CCDs will be compulsorily converted into fully paid-up Equity Shares of FV of Rs. 2/- each, at a conversion price of Rs. 550/- per Share (which is at a premium of approx. 35% on yesterday's closing market price of Rs. 408.20 at NSE), on or before 18 months from the date of their allotment and shall carry a coupon of 14.9% p.a., payable quarterly. For seeking shareholders' approval, to this CCD issuance, an EGM of shareholders' of the Company will be held on 21st Nov 2018.

Shares of Indiabulls Ventures Limited was last trading in BSE at Rs.414.5 as compared to the previous close of Rs. 404.2. The total number of shares traded during the day was 698171 in over 2160 trades.

The stock hit an intraday high of Rs. 424.4 and intraday low of 384. The net turnover during the day was Rs. 273004098.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

ICICI Bank allots 208,231 shares

AXIS Bank allots 1,44,765 equity shares

Bharat Gears Ltd board allots 11,63,262 shares

ICICI Bank allots 231, 219 shares

Coromandel International Ltd allots 22,820 shares

ICICI Bank allots 234,997 shares

AXIS Bank allots 100650 shares

Jindal Steel & Power Ltd allots 11,40,332 shares to Opelina Finance and Investment Ltd

JSW Energy Ltd completes allotment of 4,25,379 shares

Equitas Holdings Ltd allots 46606 shares

Bank of Maharashtra Ltd allots shares worth Rs. 4498 crore to Government of India at Rs. 15.14 per share

Gravita India Limited allots 291200 shares

L&T Finance Holdings Ltd allots 7,22,500 shares

ICICI Bank allots 276,244 shares

Oracle Financial Services Software Ltd allots 12969 shares

HDFC Bank allots 1737528 shares

ICICI Bank allots 201,351 shares

IndusInd Bank Limited allots 50245 shares

AXIS Bank allots 1,58,570 equity shares

ICICI Bank allots 188,206 equity shares

Bharat Financial Inclusion Ltd allots 13928 shares

Hindustan Foods Ltd to allot 27,77,779 warrants at Rs. 360

RBL Bank approves fund raising of Rs. 3500 crore

DCB Bank allots 29150 shares

Vivimed Labs Ltd allots 3,90,000 shares

AXIS Bank allots 2,62,772 equity shares

Ujjivan Financial Services Ltd allots 27373 shares

Apollo Tricoat Tubes Ltd allots 23 lakh shares

YES Bank allots 10,04,949 shares

IIFL Holdings Ltd allots 31,370 shares

Kotak Mahindra Bank Ltd allots 80787 shares

ICICI Bank allots 74,048 shares

Edelweiss Financial Services Ltd allots 84225 shares

Olectra Greentech Ltd allots 27 lakh shares at Rs. 80.10

AXIS Bank allots 1,48,850 equity shares

Panacea Biotec Ltd allots warrants at Rs. 180

CreditAccess Grameen Ltd allots 30,454 shares

Bharat Financial Inclusion Ltd allots 2650 shares

Vardhman Textiles Ltd allots 14400 shares

A2Z Infra Engineering Ltd grants 12 lakh stock options

Shalimar Paints Ltd allots 6,58,872 Equity Shares to promoter

IndusInd Bank Limited allots 1,78,925 shares

IDFC FIRST Bank Ltd allots 3,71,970 shares

ICICI Bank allots 84,905 shares

Seya Industries Ltd allots 19,70,540 CCPS

Titagarh Wagons Ltd allots 35000 shares

Indo Rama Synthetics India Ltd allots 8.30 crore shares

Reliance Industries Ltd allots 56713 shares

ICICI Bank allots 91,035 shares

AXIS Bank allots 1,30,010 equity shares







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019