Ansal Properties & Infrastructure Limited to garner funds upto Rs. 100 crore

Ansal Properties & Infrastructure Limited to garner funds upto Rs. 100 crore
Posted On:
2020-12-18 02:41:33
(Time Zone: Arizona, USA)
Ansal Properties and Infrastructure Limited (referred to as "Ansal API" or the "Company", NSE: ANSALAPI, BSE: 500013), one of the oldest and leading real estate developers in Northern India, held a board meeting on the 18th of December, 2020 to consider the issue and allotment of Warrants to non-promoter (Public) investors in line with the Companies Act, 2013 & SEBI regulations governing the issue of Warrants. The Board has considered and approved the issue and allotment of 5,00,10,000 Nos. of Warrants to Non Promoter (Public) investors, which would eventually be converted into Equity share of the company giving the investors 5,00,10,000 Nos. of Equity shares representing 24.11% of the post issue equity outstanding. For this, a total of Rs. 35 Crores will be invested through Warrants and shall be utilised for reducing debt and speed up development on existing projects.

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