Indiabulls Ventures has received board’s approval to raise around Rs 2,063 crore, through share sale to certain foreign investors. The company will raise funds in order to capitalise and fund its two subsidiaries -- IVL Finance and Indiabulls Asset Reconstruction Company.
The company has received approval for preferential offer and issue of up to 4,58,39,888 fully paid up equity shares at an issue price of Rs 450 per equity share, for cash consideration aggregating to approximately Rs 2,063 crore.
Indiabulls Ventures acts as a stock and share broker on the National Stock Exchange of India (NSE), BSE, depository participants and other related services. The company’s primary businesses include Broking and Related activities, and Lease Rental activities.
| Company Name | CMP |
|---|---|
| Motilal Oswal Fin | 820.10 |
| Angel One | 316.80 |
| IIFL Capital Service | 319.50 |
| Nuvama Wealth | 1376.60 |
| Share India Sec. | 146.25 |
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