You are using an older browser version. Please use a supported version for the best MSN experience.

Indiabulls Real Estate shares surge nearly 7% on fund raising plans

LiveMint logoLiveMint 23-06-2017 PTI

New Delhi: Shares of Indiabulls Real Estate soared nearly 7% Friday as the company is planning to raise up to Rs 500 crore through the issue of non-convertible debentures (NCD) on private placement basis.

The stock jumped 6.60% to close at Rs 204.45 on BSE.

During the day, it surged 7.84% to Rs 206.85. On NSE, shares of the company gained 6.48% to end at Rs 204.45. On the volume front, 63.35 lakh shares of the company were traded on BSE and over 5 crore shares changed hands on NSE during the day.

“The company proposes to issue secured, redeemable, non- convertible debentures of face value Rs 10 lakh each aggregating Rs 500 crore, on a private placement basis...,” the Mumbai-based developer said in a regulatory filing.

Its shareholders had approved this proposal through a special resolution passed at annual general meeting held in September last year.

The promoters had Thursday sold 3.3 crore shares of the company for about Rs 662.83 crore through open market transactions.

More From LiveMint

image beaconimage beaconimage beacon