New Delhi, June 4 -- Real estate firm Indiabulls shares will be in focus after the company board has approved a proposal to raise up to Rs.1,000.07 crore through the issuance of convertible warrants on a preferential basis to promoter group entities and non-promoter investors. The decision was approved by the company's board at its meeting held on June 3.

Indiabulls plans to issue up to 51.55 crore warrants at an issue price of Rs.19.40 per warrant, including a premium of Rs.17.40 per share. Each warrant will be convertible into one fully paid-up equity share of the company.

"The Board of directors... has inter alia, considered and approved the raising of funds upto an aggregate of INR 1000,07,00,000 through issue of an aggregate of upt...