Indiabulls Real Estate raises Rs.865-Cr through QIP

Indiabulls Real Estate Ltd (IBREL) has raised INR 865 crore through the issue of shares to institutional investors. The Mumbai-based firm had launched its QIP (Qualified Institutional Placement) issue on March 7 and closed it on April 12. The firm allotted 8,55,59,435 equity shares to qualified institutional buyers at an issue price of INR 101.10 per share, aggregating to a little over INR 865 crore. Authum Investment and Infrastructure Ltd, Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund, Copthall Mauritius Investment Ltd, Morgan Stanley Asia (Singapore), Societe Generale, and Baillie Gifford Pacific Fund participated in the QIP issue.