Indiabulls Housing launches QIP; sets floor price at Rs 206.70 per share

NEW DELHI: Indiabulls Housing Finance launched its QIP (qualified institutional placement) on Wednesday and set the floor price at Rs 206.70 per equity share for the issue. The Securities Issuance Committee of the company’s board at a meeting held on September 9, 2020 approved the floor price, it said in a regulatory filing.

“The company may offer a discount of not more than 5 per cent on the floor price so calculated for the issue (which opens on Wednesday),” it said.

In a separate filing, the company said the Securities Issuance Committee will have a meeting on September 14 to approve the issue price, including a discount, if any, for the equity shares to be allotted to the qualified institutional buyers.

At the company’s extraordinary general meeting on July 29, it had sought shareholders’ approval to raise up to USD 300 million by issuing securities through QIP or foreign currency convertible bonds.

Indiabulls Housing Finance stock settled at Rs 201.15 on BSE, down 0.54 per cent from previous close.