Corporate News 29-Mar-17
Board of Indiabulls Ventures approves preferential issue of convertible warrants
At meeting held on 28 March 2017
The Board of Directors of Indiabulls Ventures at its meeting held on 28 March 2017 has has approved preferential offer & issue of up to 3,38,00,000 convertible warrants to(a)Inuus Properties & (b)Inuus Developers, promoter group entities. These warrants are convertible into equivalent number of equity shares of Rs.2 each at an exercise price of Rs.43.75 per share. Total equity investments by these two investors would aggregate upto Rs.147.875 crore in the Company, post conversion of warrants.
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