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| Exchange Received Time 31/10/2018 21:10:23 Exchange Disseminated Time 31/10/2018 21:10:27 Time Taken 00:00:04 | | To capitalize and fund Indiabulls Consumer Finance Ltd & Indiabulls Asset Reconstruction Company Ltd, the subsidiaries, for meeting their business requirements and to further augment the long-term financial resources of the Company, the Board at its meeting held today, has considered and approved, preferential offer and issue of CCDs for an aggregate amount of upto INR 59.20 crores, to DF International Private Partners III LP, a foreign investor. These CCDs will be compulsorily converted into fully paid-up Equity Shares of FV of Rs. 2/- each, at a conversion price of Rs. 550/- per Equity Share (which is at a premium of approx. 28% on today's closing market price of Rs. 428.90 per Equity Share at NSE), on or before 18 months from the date of their allotment and shall carry a coupon of 14.9% p.a., payable quarterly. The Board has convened an EGM of Shareholders of the Company on Wednesday, November 28, 2018. For details please refer attachment. |
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