Indiabulls Real Estate raises Rs 865 cr via issue of shares

Indiabulls Real Estate Limited (IBREL) has raised Rs 865 crore via the issue of shares to institutional investors. The company launched its Qualified Institutional Placement (QIP) issue on 7 March and closed it on 12 April. IBREL said in its meeting that the fundraising committee of the Board of Directors (BoD) had approved the issue and allotment of 8,55,59,435 equity shares to qualified institutional buyers at an issue price of Rs 101.10 per share, totalling over Rs 865 crore. Authum Investment and Infrastructure Limited, Nippon Life India Trustee Limited, A/C Nippon India Multi-Cap Fund, Copthall Mauritius Investment Limited, Singapore-based Morgan Stanley Asia, Societe Generale, and Baillie Gifford Pacific Fund had participated in the QIP issue of the company. Indiabulls shares closed at Rs 108.70 per share on the Bombay Stock Exchange (BSE), down by 0.32% over the previous closure. Image Source Also read: Indiabulls Housing plans to raise Rs 50k cr growth capital by FY23