Indiabulls Ventures Limited approves rights issue of Rs. 2000 crores

The Securities Issuance Committee of the Board of Indiabulls Ventures Limited, at its meeting held on January 31, 2018, has approved the issue of up to 8,33,33,333 partly paid-up Equity Shares, on a rights basis, for an amount aggregating up to Rs. 2,000 crore. Further, the Committee approved the terms of the Issue, amongst others, the issue price, rights entitlement ratio and the schedule of the Rights Issue.

The Issue Price is Rs. 240 per Rights Equity Share (including a premium of Rs. 238 per Rights Equity Share). The payment will be made in four tranchest.

The Rights Equity Shares are being offered on a rights basis to the Eligible Equity Shareholders in the ratio of 3 Rights Equity Shares for every 16 Equity Shares held on the Record Date.

Shares of Indiabulls Ventures Limited was last trading in BSE at Rs.245.2 as compared to the previous close of Rs. 250.65. The total number of shares traded during the day was 282989 in over 1375 trades.

The stock hit an intraday high of Rs. 255.45 and intraday low of 243.1. The net turnover during the day was Rs. 71026345.

Source : Equity Bulls

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