Unitech’s shareowners have approved to issue nearly100crore shares that will assist the company to divest nearly Rs.8, 500crore at the present market cost of nearly Rs.87 on each share.
The company will also issue adaptable warrants of Rs.50 each to its advertisers on favored basis to increase extra Rs.1, 150crore.
Unitech had increased nearly Rs.1, 625crore through QIP course in April.
Besides, the company also seeks to increase nearly Rs.1, 500 to Rs.1, 700crore through sale of its possessions during the present economic year and is likely to go for selling of a couple of its hotel lands in a period of following two months.
Nevertheless, the projected inventory of its REIT on the SSE is deferred by a year as the market scenario is not encouraging over there.
The funds arranged through the procedure will be used chiefly to decrease its remaining debt that stands at about Rs.8,000crore.