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Indiabulls Real Estate soars on planning to raise Rs 480 crore via NCDs

22 Jun 2018 Evaluate

Indiabulls Real Estate is currently trading at Rs. 167.60, up by 4.00 points or 2.44% from its previous closing of Rs. 163.60 on the BSE.

The scrip opened at Rs. 163.55 and has touched a high and low of Rs. 169.30 and Rs. 160.25 respectively. So far 355114 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 269.50 on 07-Aug-2017 and a 52 week low of Rs. 158.50 on 05-Jun-2018.

Last one week high and low of the scrip stood at Rs. 173.00 and Rs. 160.25 respectively. The current market cap of the company is Rs. 7468.57 crore.

The promoters holding in the company stood at 36.93%, while Institutions and Non-Institutions held 25.26% and 37.81% respectively.

Indiabulls Real Estate is planning to raise Rs 480 crore through issue of secured, redeemable, Non-Convertible Debentures (NCDs) of face value Rs 10 lakh each on private placement basis. The issue will open on June 25 and the amount will be raised in one or more tranches.

Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.

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