Brief: Indiabulls Ventures issues 58.3 mln warrants to promoter group entities

Dhani Services

10/08/2016 12:04

Aug 10 (Reuters) - Indiabulls Ventures Ltd  INDB.NS : 
 * Issued and allotted an aggregate of 58.3 million warrants to the promoter 
group entities 
 
 * Source text: [Indiabulls Ventures Ltd has informed BSE that pursuant to and in terms of applicable provisions and shareholders' authorization, the Company has on August 10, 2016, issued and allotted an aggregate of 5,83,00,000 (Five Crores Eighty Three Lacs) Warrants, convertible into an equivalent number of equity shares of face value of Rs. 2 each of the Company, at an exercise price of Rs. 19.75 (including a premium of Rs. 17.75) per equity share to the Promoter Group entities, namely, Orthia Constructions Private Limited (2,80,00,000 warrants) and Zelkova Builders Private Limited (2,63,00,000 warrants) and Mr. Divyesh B. Shah, CEO & Whole-time Director of the Company (40,00,000 warrants)] 
 
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