Ansal properties gets shareholders nod to raise Rs 2,500 cr

November 27, 2006	(1 votes, average: 4 out of 5)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Ansal Properties & Infrastructure Ltd (APIL), promoted by the Delhi Based Ansal group, today said that its shareholders have given their nod enabling the firm to raise up to Rs. 2500 crore through the issue of securities.

The company told the BSE that its shareholders have approved to raise the amount through the issue of various securities on public issue, rights, Qualified Institutions Placement (QIP) or any other basis.

The company also plans to issue worth Rs. 8.19 lakh zero coupon secured Redeemable Optionally Convertible Debentures (ROCD) of 100 each to HDFC Ventures Trustee Company Ltd at Rs 610.01 each on preferential basis.

APIL would also issue up to 28.83 lakh equity shares of Rs 5 each to some known corporate workgroups including Bahrain-based Citicorp Banking Corporation, Citigroup Venture Capital International Growth partnership Mauritius Ltd. and to its Co-Investment Trusts at Rs 610.01 per equity share on favored basis. The company’s shares were trading down 5% at Rs 875.10 on the BSE.

News Published Under:   Real Estate India, Delhi, Real Estate Developers |

Comments