IFL to issue 10 lakh equity shares, will venture into Real Estate

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New Delhi, Jan 17 (UNI) Indcap Financial Ltd (IFL) today said the company will venture into real estate business and also issue 10 lakh equity shares to strategic investors.

The board has also decided to transfer the securities investment and other NBFC business and shifting the same to a Wholly Owned Subsidiary Company subject to the necessary approval of the Reserve Bank.

The equity shares that the company will issue will be of Rs 10 each at a price of Rs 50 per share including a premium of Rs 40 per shares to Strategic Investors.

The company also appointed Mr Sanjay Kumar Singhal as an independent director and Chairman.

UNI PDT BJR AS1303

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