Indiabulls Ventures locked in 5% lower circuit ahead of board meet for preferential issue
Indiabulls Ventures would consider the preferential issue of equity shares to certain eligible non-resident investor(s).
October 22, 2018 / 12:13 PM IST
Indiabulls Ventures shares were locked in 5 percent lower circuit at Rs 404.20 on Monday ahead of board meeting to consider preferential issue.
There were pending sell orders of 1,98,947 shares, with no buyers available on the BSE, at 11:58 hours IST.
The company said board of directors in their meeting scheduled for October 24 would consider and approve the preferential issue of equity shares and/or convertible debentures and/or convertible preference shares and/or convertible warrants of the company to certain eligible non-resident investor(s).
The board will also decide the pricing of such specified securities under the preferential issue and the convening of an Extraordinary General Meeting of the company on same day.
Hence, the trading window for dealing in securities of the company has been closed, and will remain closed till October 26.
Indiabulls Ventures is a capital market company, providing securities and derivative broking services.