Indiabulls Real Estate has approved the plan to raise up to Rs 1,500 crore to augment its long-term resources and to maintain sufficient liquidity to meet funding requirements for business activities, and to support future business growth.

Indiabulls Real Estate board approves raising funds up to ₹1,500 crore

The company will be raising this capital through one or more Qualified Institutions Placement (QIP) and/or any other permissible mode including global depository receipts or American depository receipts, Foreign Currency Convertible Bonds, and/or Foreign Currency Exchangeable Bonds and/or warrants with or without non-convertible debentures with the rights.

The company will seek the requisite approval for the same from its shareholders in due course, the developer said in a regulatory filing.