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Hot Pursuit
03-Apr-24
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Indiabulls Real Estate board to mull fund raising proposal on 5 April
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Indiabulls Real Estate said that its board will meet on Friday, 5 April 2024 to consider the proposal for raising of funds by various securities through permissible modes.
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“we wish to inform that a meeting of the board of directors is scheduled to be held on Friday, April 5, 2024 to consider and approve, inter-alia, the proposal for raising of funds by way of debt, equity or any other equity linked or convertible securities through all or any permissible modes or method, including private placement, preferential issue, rights issue, qualified institutions placement or such other modes,” the company stated in regulatory filing.
Indiabulls Real Estate is engaged in construction and development of residential, commercial and SEZ project.
The company reported net loss of Rs 38.65 crore in Q3 FY24 as compared with net loss of Rs 236.99 crore in Q3 FY23. Net sales declined 24.4% YoY to Rs 100.55 crore in Q3 FY24.
The scrip rallied 7.25% to ends at Rs 126.45 on Tuesday, 2 April 2024.
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