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HB Estate Developers raises Rs 20 crore

HB Estate Developers has raised funds aggregating to Rs 20 crore via private placement. The Securities Committee Meeting of the Board of Directors of the company held on September 21, 2018, has allotted 20,00,000 9% Redeemable Non Cumulative Non Convertible Preference Shares – Series III Tranche I of face value of Rs 100 each aggregating to Rs 20 crore to HB Portfolio, a promoter group company.

HB Estate Developers is primarily engaged in the development of commercial complexes.

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