HDIL QIP – upto USD 600 Million

Housing Development & Infrastructure Ltd (HDIL) has announced that the Board of Directors of the Company at its meeting held on May 23, 2009, inter alia, has approved the following:

1. The Board has decided subject to the approval of the Shareholders, to issue further capital upto USD 600 Million (United States Dollars Six Hundred Million only) or its Indian Rupee equivalent to Qualified Institutional Buyers.

2. The Board has also decided to make preferential allotment of warrants to the Promoter of the Company.

3. To Convene an Extraordinary General Meeting of the Shareholders of the Company on
June 17, 2009 to issue Shares to Qualified Institutional Buyers under Qualified Institutions Placement upto USD 600 Million (United States Dollars Six Hundred Million only) or its Indian Rupee equivalent and Preferential issue/allotment of warrants to Promoter.

Categories: Forex, Market News
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