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Indiabulls Financial Services to raise $1 Billion

February 6, 2008

The board of Indiabulls Financial Services has decided to raise fund upto Rs 4,000 crore by issue of shares by international offerings through an issue of convertible securities / ADRs / GDRs and FCCBs convertible into equity shares of the company.

The board has decided to issue equity shares / fully convertible debentures / partly convertible debentures or any other securities other than warrants.

The board has decided to issue equity shares / fully convertible debentures / partly convertible debentures / optionally convertible debentures / debentures with right to subscribe to equity shares / convertible / non convertible preference shares / bonds / non convertible debentures with detachable warrants / any other financial instruments convertible or otherwise of the company.

Further, the board has decided to increase the existing authorized share capital of the company of Rs 1243,47,50,000 divided into 50,00,00,000 equity shares of Rs 2 each, 2,50,00,000 preference shares of Rs 300 each and 2,50,00,000 preference shares of Rs 157.39 each to Rs 1543,47,50,000 divided into 200,00,00,000 equity shares of Rs 2 each, 2,50,00,000 preference shares of Rs 300 each and 2,50,00,000 preference shares of Rs 157.39 each.

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