Indiabulls Real Estate allots 1.15 cr shares to Oberon
Indiabulls Real Estate, formed after separation from Indiabulls Financial Services, after today said it has alloted 1.15 crore equity shares worth Rs 158.70 crore to Oberon Ltd upon conversion of preferential shares.
By PTI |
MUMBAI: Indiabulls Real Estate, formed after separation from Indiabulls Financial Services, after today said it has alloted 1.15 crore equity shares worth Rs 158.70 crore to Oberon Ltd upon conversion of preferential shares.
Oberon, a special purpose vehicle wholly-owned by funds managed and controlled by Farallon Capital, is an investment advisor registered with the US Securities and Exchange Commission (SEC) that manages equity capital for institutions and high net worth individuals.
In a filing to the Bombay Stock Exchange (BSE), Indiabulls Real Estate said it has received notice from Oberon for conversion of 1,15,00,000 preference shares of Rs 138 each into equal number of equity shares.
These preference shares were issued by Indiabulls Real Estate pursuant to the share subscription agreement dated June 18, 2006, and in terms of the scheme of arrangement between Indiabulls Financial Services and itself and their respective shareholders and creditors.
With the issue of 11,500,000 equity shares to Oberon, the paid up equity capital of Indiabulls Real Estate stands increased from Rs 43.68 crore to Rs 45.98 crore.
Shares of Indiabulls Real Estate closed at Rs 582, down 0.61 per cent on BSE.
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