NEW DELHI: CHD Developers, a NCR-based real estate builder has raised approximately Rs 87 crore by way of investment from promoters and Ashish Kacholia with few other investors. The money raised as equity and warrants will be used for the construction of company's ongoing projects.The company allotted 1.5 crore equity shares of face value of Rs 2 each and 4.5 crore fully convertible warrants (warrants), for cash, at an issue price of Rs 14.52 per equity share/warrant on preferential basis.
"Out of the total issue size, we have already raised Rs 38 crore that includes 1.5 crore equity shares and 25% of 14.52 per equity share/warrant, Gaurav Mittal, MD, CHD Developers.
The remaining amount of Rs 49 crore against warrants will be received within a period of 18 months from the date of allotment.
"The allotment had resulted in improvement of debt equity ratio and also there has been increase in market capitalization of CHD from Rs 194 crore (27.02.2018) to Rs 225 crore (11.04.2018) by way of addition of 1.5 crore shares to its capital," claimed Mittal.