Home > Mumbai > Promoter to implant up to Rs 150 crore in HDIL through offer warrants

Promoter to implant up to Rs 150 crore in HDIL through offer warrants

June 15, 2016 | By

Promoter of realty engineer Housing Development and Infrastructure Ltd (HDIL) will mix up to Rs 150 crore crisp capital in the organization. The capital will be imbued through a special issue of offer warrants to promoter Sarang Wadhawan.

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These warrants valued at Rs 96.35 for each warrant will be issued at a premium of 3.79% over the base cost according to SEBI ICDR directions, the organization said in an announcement. These offer warrants will be issued at Rs 100 and will be convertible into proportionate number of value shares of face estimation of Rs 10 each.

As on May 28th, promoters’ stake in the organization remained at 34.25% and the same would increment to endless supply of all the warrants.

For the year finished 2015-16 (April-March), the organization reported a united benefit of Rs 266.13 crores and salary of Rs 1,192 crores.

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