Indiabulls Ventures Ltd. on Tuesday said that it has raised Rs 441 crore through a preferential share sale to a clutch of investors, including American fintech investor Ribbit Capital.
The company’s board has approved allotment of an aggregate of 2.52 crore fully paid-up equity shares of the face value of Rs 2 each of the company at an issue price of Rs 175 for a Rs 2 paid-up share (including a premium of Rs 173 per share) for cash consideration, to certain foreign investors, it said in a regulatory filing.
Consequent to the said allotment, the paid-up equity share capital of the company stands increased.
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Apart from Ribbit Capital other investors include New York Stock Exchange-listed Inteligo Bank, US-based First Royalty Ventures LLC and San Francisco-based TIMF Holdings, Indiabulls Ventures said in a regulatory filing.
Post the announcement, shares of the company were trading at Rs 247.00, up by Rs 4.40 or 1.81 per cent. It had earlier touched day’s high of Rs 253 and low of Rs 240.
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