Rakesh Jhunjhunwala to add THIS stock to his portfolio, others will also invest
Zee News
D B Realty will allot 5 crore warrants to investors, including Rakesh Jhunjhunwala and his wife.
New Delhi: Real estate developer D B Realty will allot 5 crore warrants to investors, including Rakesh Jhunjhunwala and his wife, within days of Godrej Properties cancelling its plans to invest Rs 700 crore in the company to pick up 10 per cent stake and set up a joint platform.
The company will raise Rs 1,575 crore through issue of warrants in multiple tranches to the promoter group and other investors, as part of its plan to become debt free.
In a regulatory filing, D B Realty said the board in its meeting held on Wednesday approved allotment of further 5 crore warrants convertible into equivalent numbers of equity shares to six non-promoter investors.
