Shares of Indiabulls Ltd, which is into real estate and financial services, are in focus as the company has announced the date for Extra-ordinary General Meeting (EGM) to get approval from shareholders to raise Rs 1000.07 crore via a preferential issue of convertible warrants. According to the information shared, the meeting is scheduled for July 2, 2026. The company has stated that the board of directors has proposed to issue up to 51,55,00,000 unlisted warrants on a private placement basis. The issue price has been fixed at Rs 19.40 per warrant, including a premium of Rs 117.40. The company stated that the floor price has been fixed higher than the floor price set by a valuer.
Terms of conversion
The company has stated that each warrant is convertible into one fully paid-up equity share of face value Rs 2 within a maximum timeframe of 18 months from the date of allotment. Investors will have to pay 25 per cent of the issue price upfront at the time of allotment. The remaining amount will have to be paid at or prior to the time of conversion. On failure to exercise the conversion option within the stipulated timeframe, the initial deposit will be forfeited.
Indiabulls share price
The stock opened in the red at Rs 24.70 against the previous close of Rs 24.72 on the BSE. It later dipped to touch the low of Rs 23.51, representing a fall of 4.89 per cent from the last closing price. The market cap of the company stood at Rs 5,464.62 crore.
The stock has fallen after three days of consecutive gain and comes at a time when benchmark indices have declined amid escalating tensions between the US and Iran. Technically, the stock is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Q4 profit
The company reported a net profit of Rs 194.26 crore for the quarter ended in March 2026. The company had posted a net loss of Rs 164.17 crore in the year-ago period.
Total income more than doubled to Rs 418.39 crore in the fourth quarter of 2025-26 fiscal from Rs 149.15 crore in the corresponding period of the preceding year, according to a regulatory filing on Wednesday.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
