Housing Development and Infrastructure Ltd (HDIL) said on Thursday $ million (Rs crore) via qualified institutional placements (QIP). HDIL said it has raised $ million through sale of shares to qualified institutional investors. HDIL is planning to raise around Rs crore and Sobha Developers Rs crore through QIPs.
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HDIL raises $ million through QIP
Find this comment offensive? It is believed that Indiabulls will use the funding for its projects in Mumbai. Following the success of Unitech and Indiabulls in raising funds through qualified institutional placements QIPsat least two other real estate players are taking hddil same route, with plans to raise Rs 3, crore by June-end.
Fill in your details: Indiabulls Real Estate on Wednesday announced that it has raised Rs 2, Technicals Technical Chart Visualize Screener.
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Get instant notifications from Economic Times Allow Not now. Besides, the promoters of country’s largest realty firm DLF had last week sold 9. Reeling under acute cash crunch, a host of real estate companies are now resorting to QIP and preferential allotment of warrants to promoters to strengthen their cash balance.
Choose your reason below and click on the Report button. Foul language Slanderous Inciting hatred against a certain community Others. Technicals Technical Chart Visualize Screener. Will be displayed Will not be displayed Will be displayed. Get instant notifications from Economic Aip Allow Hdll now You can switch off notifications anytime using browser settings.
Another big gainer in the realty sector heil Orbitco which rose by Yesterday, Indiabulls Real Estate raised Rs 2, My Saved Articles Sign in Sign up.
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It is believed that the company will announce this decision latest by June-end. The board on Hdjl 23 would consider proposal for fund raising through various means like QIP to Qualified Institutional Buyers, preferential allotment to the promoters and any such manner or way the board may deem fit,” HDIL said in a filing to the Bombay Stock Exchange. To see your saved stories, click on link hightlighted in bold.
Liquidity at qpi looks better now and some companies are considering the QIP route,” said a Mumbai-based real estate consultant. The company issued NIFTY 50 10, qp. The promoter’s stake after the QIP has come down in both the cases. Meanwhile, real estate stocks have witnessed a healthy rise since Monday. This will alert our moderators to take action.
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To see your saved stories, click on link hightlighted in bold. My Saved Articles Sign in Sign up. NIFTY 50 qil, 2.
Drag according to your convenience. The real estate sector has been facing a liquidity crunch for some time now but the situation has improved post the election results and many industry players are encouraged by the response Indiabulls and Unitech have received.
Will be displayed Will not be displayed Will be displayed. According to a market source, Sobha Developers too is looking at raising around Rs crore. Indiabulls rose by 3. Omaxe and Parsvnath rose by However, an industry source said Sobha is also considering other options to raise equity.
The promoters of country’s second largest realty firm Unitech are also looking to raise their stake by about 10 per cent in the company by subscribing to warrants worth about Rs 1, crore over the next 18 months. Foul language Slanderous Inciting hatred against a certain community Others.
Your Reason has been Reported to the admin. This will alert our moderators to take action. Get instant notifications from Economic Times Allow Not now. Last month, it had raised Rs 1, crore via QIP to fund various projects and retire part of its Rs 8,crore debt. Fill in your details: