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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Yesterday, Indiabulls Real Estate raised Rs 2, Omaxe and Parsvnath rose by Another big gainer in the realty sector was Orbitco which rose by Meanwhile, real estate stocks have witnessed a healthy rise since Monday.
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HDIL to raise funds via QIP, pref allotment to promoters
It is believed that the company will announce this decision latest by June-end. Find this comment offensive? Get instant notifications from Economic Times Allow Not now.
According to a market source, Sobha Developers too is looking at raising around Rs crore. Besides, the promoters of country’s largest realty firm DLF had last week sold 9. Qop instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings. NIFTY 50 10, 2.
Now, Sobha, HDIL to go the QIP way – The Economic Times
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HDIL to raise Rs 2, crore in QIP | Business Standard News
Liquidity at least looks better now and some companies are considering the QIP route,” said a Mumbai-based real estate consultant. Get instant notifications from Economic Times Allow Not now. Never miss a great news story!
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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. The promoter’s stake after the QIP has come down in both the cases.
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Indiabulls Real Estate on Wednesday announced that it has raised Rs 2, Your Reason has been Reported to the hcil. Indiabulls rose by 3.
HDIL to raise Rs 2,880 crore in QIP
However, an industry source said Sobha is also considering other options to raise equity. Never miss a great news story! 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.