Indiabulls Ventures allots 33.65 mn equity shares to promoters

Indiabulls Ventures allots 33.65 mn equity shares to promoters

10/04/2017 16:28

Indiabulls Ventures on Monday said that it has allotted issued and allotted an aggregate of 33.65 million fully paid up equity shares of face value of Rs 2 each, to promoter group entities and to CEO & Whole-time Director of the company.

“The company has issued and allotted an aggregate of 33,650 fully paid up equity shares of face value of Rs 2 each, to promoter group entities (29,650,000 equity shares) and to CEO & Whole-time Director (4,000,000 equity shares), upon conversion of equivalent number of warrants, which were allotted to them pursuant to and in terms of shareholders’ approval dated July 15, 2016,” said Indiabulls Ventures in a filing to BSE.

Consequent to the said allotment, the paid-up equity share capital of the company stands increased to Rs 707,713,840 divided into 353,856,920 equity shares of face value of Rs 2 each, it added.

Meanwhile, shares of company closed Monday’s trade at Rs 74.15 apiece, up 4.95 per cent, on the Bombay Stock Exchange.

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