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Indiabulls Ventures informs about outcome of board meeting

22 Apr 2017 Evaluate

Indiabulls Ventures has informed that to augment the long-term resources of the Company for meeting funding requirements for its business purposes, the Board of the Company, at its meeting held on April 21, 2017 (commenced at 8:00 P.M. & concluded at 9:15 P.M.), has approved preferential offer & issue of 47,390,000 equity shares at an issue price of Rs 94.70 (including a premium of Rs 92.70) per equity share, for cash consideration, to Tamarind Capital, a company incorporated in Singapore, (Investor). The total equity investment by the Investor would aggregate to Rs 4,487,833,000. The offer & issue of these equity shares is in accordance with Chapter VII of the SEBI (ICDR) Regulations 2009, as amended & other applicable provisions of FEMA & rules & regulations framed there under or prescribed by any other Regulator. For seeking shareholders approval, to the aforesaid issuance, the Board has convened an EGM of its shareholders on Monday, May 22, 2017.

The above information is a part of company’s filings submitted to BSE.

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