Realty firm Housing Development and Infrastructure Limited (HDIL) today said it will issue share warrants worth up to Rs 150 crore to promoter Sarang Wadhawan.
HDIL said that the share warrants would be issued at Rs 100 each on preferential basis.
The warrants will be convertible in to equivalent number of equity shares of face value of Rs 10 each, Mumbai-based developer said in a statement.
The warrants priced at Rs 96.35 per warrant will be issued at a premium of 3.79 per cent over the minimum price as per Sebi ICDR regulations.
The company reported a net profit at Rs 266.13 crore for the financial year 2015-16 and a consolidated annual income of Rs 1,192.47 crore.
