Indiabulls Ventures Spikes Over 3% Board Approves Preferential Issue

Indiabulls Ventures is soaring high in the early hours of trade on BSE, as the board of the company has approved the preferential issue of upto 3,38,000 convertible warrants to Innus Properties and Inuus Developers, promoter group entities.

The warrants are convertible into equivalent number of equity shares of Rs 2 each at an exercise price of Rs 43.75 per share. The stock opened at Rs 52.60 per share, traded on a 52 week high of Rs 52.90 per share; and a low of Rs 51 per share. BSE Finance Index is trading up by 12 points or 0.26% at 4851 levels. Nifty Financial Service index is trading up by 0.17 % or 14.55 points at 8685 levels.     

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