The decision was taken by the board of directors in a meeting held today (August 28, 2020).The board approved the preferential offer and issue of an aggregate of up to 3,36,00,000 equity shares, approximately 5.5 per cent of the post preferential issue share capital of the company, at an issue price of Rs 175 per equity share, for cash consideration, to certain foreign investors, it said.
"The total equity investment by the investors would aggregate to Rs 588 crore, equivalent to $80 million in the company," Indiabulls Ventures
A total of six investors will infuse the equity capital into the company, with Ribbit Cayman IN Holdings VI, Ltd (RCH) being offered 1,05,00,000 shares, while 84,00,000 shares extended to NWI Emerging Market Fixed Income Master Fund Ltd.
Inteligo Bank Ltd and First Royalty Ventures LLC will be getting 42,00,000 equity shares each. TIMF Holdings will be offered 37,80,000 shares and Think India Opportunities Master Fund LP will get 25,20,000 shares of the company.
The board of directors, among others, approved the appointment of Sameer Gehlaut as Chairman and Chief Executive Officer (CEO) of the company. The company also approved the re-designation of Divyesh B Shah as the Chief Operating Officer of the company.
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