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Unitech activates Rs.1, 155crore

Tuesday, June 30, 2009 3:51 pm
By ShareGyan.com NewsDesk

Unitech has activated new funds with a value of Rs.1, 154.56crore by assigning 22.75crore exchangeable warrants to Harsil Projects on a favored basis.
These warrants can be transformed into equity share of Rs.2 each at a payment of Rs.48.75 on each share in one or over tranches within 18 months from the date of allocation.
The company is also expected to increase $200 million in the next quarter, whereas selling its stake in low-priced housing ventures to private equity players.

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