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Indiabulls Financial to raise up to Rs4,000 cr

Indiabulls Financial to raise up to Rs4,000 cr
PTI
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First Published: Wed, Feb 06 2008. 03 12 PM IST
Updated: Wed, Feb 06 2008. 03 12 PM IST
Mumbai: Domestic brokerage major Indiabulls Financial Services today said it will raise funds to the tune of Rs4,000 crore through the issue of securities in domestic as well as international markets.
The company would raise Rs4,000 crore in one or more tranches through the issue of Foreign Currency Convertible Bonds, Global Depository Receipts, equity shares, debentures or any other securities other than warrants to Qualified Institutional Buyers (QIB), Indiabulls Financial said in a filing to the Bombay Stock Exchange.
Indiabulls Financial would also enhance the existing borrowing limits and increase the existing authorized share capital of the company.
The board of directors have approved the draft postal ballot notice covering the aforesaid matters and the company would seek shareholders approval for the above mentioned purposes through postal ballot.
The results of the postal ballot would be declared on 6 March, this year.
Earlier in January this year, the board of directors approved the proposal to raise $1 billion (about Rs4,000 crore) through the issue of shares by international offerings of convertible securities such as American Depository Receipts (ADRs), GDRs and FCCBs convertible into equity shares.
Shares of the company were trading at Rs675, down 2.79% on the BSE in afternoon trade.
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First Published: Wed, Feb 06 2008. 03 12 PM IST