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India: HDIL to raise $600 mln via QIP

Posted on 18 June 2009

From Thehindubusinessline.com: Realty firm Housing Development & Infrastructure Ltd (HDIL) on Wednesday said it will raise $600 million (about Rs 2,875.67 crore) through private placement of shares to qualified institutional buyers.

The shareholders of the company have approved the proposal “to issue equity shares up to $600 million under qualified institutions placement (QIP) to qualified institutional buyers”, HDIL said in a filing to the Bombay Stock Exchange………Full Article: Source


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