Indiabulls allots shares for ICSL merger

The board of directors of Indiabulls Financial Services, which met on December 24, approved the issue of 2.56 crore shares of Rs 2 each to the shareholders of Indiabulls Credit Services (ICSL).

According to a release issued by Indiabulls to the BSE today,consequent to the issue and allotment of equity shares the paid up capital of the company stands increased from the previous Rs 45,54,92,562 divided into 22,77,46,281 shares of Rs 2 each to Rs 50,68,53,978 divided into 25,34,26,989 shares of Rs 2 each.