EGM approves INR 1000 Crore preferential warrant issue

Board & Shareholder Meetings View source PDF

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AI summary

Indiabulls EGM on July 2, 2026 approved a special resolution for preferential issue of warrants worth INR 1000.07 Crore convertible into equity shares to promoter group and non-promoter entities. Of 232.95 crore total shares, 112.76 crore (48.40%) were polled; 99.79% voted in favour and 0.21% against. Promoters voted fully in favour, public institutions 98.85% in favour, and public non-institutions 99.98% in favour.

Likely market impact

Clears capital raise of about INR 1000 Crore via warrants; existing shareholders face dilution once warrants convert into shares.