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If you do not consent, do not use this website. It is at your, the user's, discretion to proceed with accessing this website. Further the Company has announced that, the floor price in respect of the aforesaid placement, based on the pricing formula as prescribed under Regulation 85 of the SEBI Regulations is Rs.

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India's HDIL raises $250 mln through QIP

News reports state its intent to raise about Rs2, crore through a qualified institutional placement QIP. According to an analyst with a leading Mumbai-based broking house, part of the Rs2, crore will be used to pay for the land parcel for its airport rehabilitation project. As the NCD proceeds replace high-cost debt, interest costs could come down by about 0. TDRs are at around Rs3, per sq. A decision is awaited from the Mumbai high court on the case where developers are seeking higher floor space index FSI , a measure of how high the building can rise.


HDIL raises Rs 11.6 bln via QIP route

Realty firm Housing Development and Infrastructure Ltd said it has raised USD million through sale of shares to qualified institutional investors to part-finance the second phase of the airport rehabilitation programme in Mumbai, among others. Besides part-financing of the airport rehabilitation programme, the Mumbai-based real estate firm would utilise the funds raised through the QIP route to meet working capital requirements. Asked whether the company would raise the remaining USD million during the current fiscal, he said, "We have completed the fund raising programme. There is no plan to dilute equity in the near future". Announcing its first quarter results, HDIL had said that its plan to launch four to six million square feet of residential projects in the current fiscal. HDIL is also developing projects at Pune, Hyderabad and Kochi and considering expanding into hotel projects, special economic zone developments and mega-structure complexes. Buyer power: Global brokers bring in best practices.


HDIL raises $250 mn from QIP

The benchmark stock Sensex rose 0. A senior IT official confirmed the development but declined to disclose the findings of the search. He declined to be identified. Hariprakash Pandey, deputy general manager finance of HDIL also confirmed that the searches had been conducted. HDIL had earlier raised Rs1, crore through a qualified institutional placement or QIP, in which shares are placed privately with potential institutional buyers such as banks.

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