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| Exchange Received Time 04/05/2018 20:33:26 Exchange Disseminated Time 04/05/2018 20:33:36 Time Taken 00:00:10 | | To capitalize and fund IVL Finance Limited and Indiabulls Asset Reconstruction Company Limited, subsidiaries of the Company, for meeting their business requirements and to support the future growth of their businesses and to further augment the long-term financial resources of the Company, the Board of the Company, at its today's meeting i.e. May 4, 2018 (commenced at 4:30 P.M.; concluded at 8:15 P.M.), has approved the preferential offer and issue of upto 4,58,39,888 fully paid up equity shares at an issue price of INR 450/- per equity share, for cash consideration aggregating to approx. INR 2063 crore, to certain foreign investors. A meeting of the Shareholders of the Company will be held on Thursday, May 31, 2018, for seeking their approval to the said proposed preferential issue of shares, which will be in accordance with applicable SEBI (ICDR) Regulations. For details, please refer the attachment. |
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