Indiabulls Real Estate Ltd (BSE:532832), engaged in real estate and infrastructure business, on Friday said it has decided raise US$600 million through a private placement.
The board of directors took a decision to this effect at its meeting held on Friday , Indiabulls Real Estate said in a filing with the Bombay Stock Exchange.
The board resolved to issue equity shares or fully convertible debentures or any other securities to qualified institutions buyers (QIBs), it said.
The board has decided to obtain the approval of the shareholders for this, it said.
In order to obtain the consent of the shareholders for the aforesaid matter, an extraordinary general meeting of the company would be convened on May 18, it said.
The company's development projects are spread across residential projects, commercial offices, hotels, malls, and Special Economic Zones (SEZs) infrastructure development.
Shares of the company closed at Rs 147.55, up 1.37 per cent from the previous close on the BSE.
The board of directors took a decision to this effect at its meeting held on Friday , Indiabulls Real Estate said in a filing with the Bombay Stock Exchange.
The board resolved to issue equity shares or fully convertible debentures or any other securities to qualified institutions buyers (QIBs), it said.
The board has decided to obtain the approval of the shareholders for this, it said.
In order to obtain the consent of the shareholders for the aforesaid matter, an extraordinary general meeting of the company would be convened on May 18, it said.
The company's development projects are spread across residential projects, commercial offices, hotels, malls, and Special Economic Zones (SEZs) infrastructure development.
Shares of the company closed at Rs 147.55, up 1.37 per cent from the previous close on the BSE.
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