Indiabulls Real Estate shares surge nearly 7% on fund raising plans
Indiabulls Real Estate shares surged 7.84% intraday to ₹206.85 on Friday. The stock jumped 6.60% to close at ₹204.45 on BSE
New Delhi: Shares of Indiabulls Real Estate soared nearly 7% Friday as the company is planning to raise up to ₹ 500 crore through the issue of non-convertible debentures (NCD) on private placement basis.
The stock jumped 6.60% to close at ₹ 204.45 on BSE.
During the day, it surged 7.84% to ₹ 206.85. On NSE, shares of the company gained 6.48% to end at ₹ 204.45. On the volume front, 63.35 lakh shares of the company were traded on BSE and over 5 crore shares changed hands on NSE during the day.
“The company proposes to issue secured, redeemable, non- convertible debentures of face value ₹ 10 lakh each aggregating ₹ 500 crore, on a private placement basis...," the Mumbai-based developer said in a regulatory filing.
Its shareholders had approved this proposal through a special resolution passed at annual general meeting held in September last year.
The promoters had Thursday sold 3.3 crore shares of the company for about ₹ 662.83 crore through open market transactions.
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