Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, HB Estate Developers has informed that the Securities Committee Meeting of the Board of Directors of the Company in its meeting held on 21st September, 2018 has allotted 20,00,000, 9% Redeemable Non Cumulative Non Convertible Preference Shares - Series III Tranche I of face value of Rs 100 each aggregating to Rs 20,00,00,000 to HB Portfolio, a promoter group company. The said Preference Shares were issued on Private Placement basis.
The above information is a part of company’s filings submitted to BSE.