Mumbai: Indiabulls Housing Finance on Sunday announced plans to raise ₹3,693 crore through a rights issue of equity shares with a face value of ₹2 each.

The decision follows the approval by the company’s board of directors during their meeting on January 17, 2024. The company’s Securities Issuance and Investment Committee of the Board (SIIC) met and approved raising funds through rights issues including issuing equity shares of 24.62 cr shares at ₹150 per share to raise ₹3,693 crore, according to an exchange filing on Sunday.

The record date for determining equity shareholders is Thursday, February 1, 2024.

The rights issue period is scheduled to open on Wednesday, February 7, 2024, with a closing date on Tuesday, February 13, 2024.

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