{"id":14825,"date":"2022-01-11T20:53:26","date_gmt":"2022-01-11T15:23:26","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-db-realty-fundraise\/"},"modified":"2022-01-12T10:27:13","modified_gmt":"2022-01-12T04:57:13","slug":"biz-db-realty-fundraise","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-db-realty-fundraise\/","title":{"rendered":"DB Realty seeks shareholders nod to raise up to Rs 563 cr via warrants"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2251800767\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Jan 11 (PTI) Mumbai-based DB Realty Ltd has sought shareholders\u2019 approval for its proposal to raise Rs 563 crore by issuing warrants to promoters and investors.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-186436144\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>In a regulatory filing, the company informed that an extraordinary general meeting (EGM) has been called on February 2 to consider this proposal.<\/p>\n<p>The Board of Directors, in its meeting held on January 4, approved the proposal for raising funds by way of issuance and allotment of warrants up to 13.05 crore.<\/p>\n<p>The warrants are convertible into an equal number of equity shares on a preferential basis to members of promoters\/ promoter groups and non-promoter investors.<\/p><div class=\"trade-content_5\" id=\"trade-525616219\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>As per the EGM notice to the shareholders, the price of each equity warrant is Rs 43.15, which will be converted into one equity share of Rs 10 each at a premium of Rs 33.15.<\/p>\n<p>The company proposes to raise up to Rs 563.10 crore through the issue of warrants. The amount will be used to reduce debt, fund its various projects, meet working capital requirements, strengthen the financial position and for general corporate purposes.<\/p>\n<p>Out of the total warrants, the company proposes to issue 4,87,50,000 warrants each to Goenka Family Trust and SB Fortune Realty, both part of the promoters group.<\/p>\n<p>It also proposes to issue 3.3 crore warrants to Pinnacle Investments.<\/p>\n<p>Razack Family Trust holds 60 per cent and Venkata Narayana Konanki 40 per cent in partnership firm Pinnacle Investments, the notice said.<\/p>\n<p>The partnership firm is represented through its managing partner &#8211; Razack Family Trust through its Trustee Irfan Razack, it added.<\/p><div class=\"trade-content-10\" id=\"trade-24295608\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Irfan Razack is the chairman of Bengaluru-based realty firm Prestige Estates Projects Ltd.<\/p>\n<p>Prestige Group and DB Realty have tied up to develop a few projects in Delhi-NCR and Mumbai Metropolitan Region (MMR) markets. PTI MJH  BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-718338875\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 11 (PTI) Mumbai-based DB Realty Ltd has sought shareholders\u2019 approval for its proposal to raise Rs 563 crore by issuing warrants to promoters and investors. In a regulatory filing, the company informed that an extraordinary general meeting (EGM) has been called on February 2 to consider this proposal. The Board of Directors, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-14825","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DB Realty seeks shareholders nod to raise up to Rs 563 cr via warrants - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-db-realty-fundraise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DB Realty seeks shareholders nod to raise up to Rs 563 cr via warrants\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Jan 11 (PTI) Mumbai-based DB Realty Ltd has sought shareholders\u2019 approval for its proposal to raise Rs 563 crore by issuing warrants to promoters and investors. 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