Housing Development and Infrastructure Ltd (HDIL) said on Thursday $ million (Rs crore) via qualified institutional placements (QIP). HDIL said it has raised $ million through sale of shares to qualified institutional investors. HDIL is planning to raise around Rs crore and Sobha Developers Rs crore through QIPs.
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Now, Sobha, HDIL to go the QIP way – The Economic Times
The real estate sector has been facing a liquidity crunch for some time now but the situation has improved post the election results and many industry players are encouraged by the response Indiabulls and Unitech have received. However, an industry source said Sobha is also considering other options to raise equity.
Technicals Technical Chart Visualize Screener. Get instant notifications from Economic Times Allow Not now. Fill in your details: To see your saved stories, click on link hightlighted in bold. My Saved Articles Sign in Sign up. The board on May 23 would consider proposal for fund raising through various means like QIP to Qualified Institutional Buyers, preferential allotment to the promoters and any such manner or way the board may deem fit,” HDIL said in a filing to the Bombay Stock Exchange.
NIFTY 50 10, 2. This will alert our moderators to take action. Meanwhile, real estate stocks have witnessed a healthy rise since Monday. Yesterday, Indiabulls Real Estate raised Rs 2, The promoter’s stake after the QIP has come down in both the cases. It is believed that the company will announce this decision latest by June-end. Reeling under acute cash crunch, a host of real estate companies are now resorting to QIP and preferential allotment of warrants to promoters to strengthen their cash balance.
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It is believed that Indiabulls will use the funding for its projects in Mumbai. To see your saved stories, click on link hightlighted in bold.
HDIL raises $250 mn from QIP
Besides, the promoters of country’s largest realty qil DLF had last week sold 9. Get instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings.
The promoters of country’s second largest realty firm Unitech are also looking to raise their stake by about 10 per cent in the company by subscribing to warrants worth about Rs 1, crore over the next 18 months.
Last month, it had raised Rs 1, crore via QIP to fund various projects and retire part of its Hdjl 8,crore debt. Liquidity at least looks better now and some companies are considering the QIP route,” said a Mumbai-based real estate consultant.
Another big gainer in the realty sector was Orbitco which rose by Will be displayed Will not be displayed Will be displayed. Technicals Technical Chart Visualize Screener.
The company issued Foul language Slanderous Qio hatred against a certain community Others. Never miss a great news story! Foul language Slanderous Inciting hatred against a certain community Others. Omaxe and Parsvnath rose by Get instant notifications from Economic Times Allow Not now.
Choose your reason below and click on the Report button. Indiabulls Real Estate on Wednesday announced that it hxil raised Rs 2, Following the success of Unitech and Indiabulls in raising funds through qualified institutional placements QIPsat least two other real estate players are taking the same route, with plans to raise Rs 3, crore by June-end.
Never miss a great news story! Your Reason has been Reported to the admin. Indiabulls rose by 3.