Indiabulls Real Estate raises Rs 865 crore through QIP issue

Property developer Indiabulls Real Estate Ltd (IBREL) has raised Rs 865 crore through issue of equity shares to institutional investors.

The company has allotted the shares to investors through its Qualified Institutional Placement (QIP) issue that closed on Tuesday.

The fund-raising committee of the board of directors, at its meeting held on April 12, approved the issue and allotment of 8.55 crore equity shares to qualified institutional buyers at an issue price of Rs 101.10 per share, the company said in a regulatory filing.


Authum Investment and Infrastructure, Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund, Copthall Mauritius Investment, Morgan Stanley Asia (Singapore), Societe Generale, and Baillie Gifford Pacific Fund are among the key institutional investors that participated in the QIP issue.