122% Returns In 3 Months! Indiabulls Announces Board Meet For Rs 1000 Cr Preferential Issue

Indiabulls Limited, formerly known as Yaari Digital Integrated Services Limited, has scheduled an Extraordinary General Meeting (EGM) for July 2, 2026, to seek shareholder approval for a preferential issue of convertible warrants valued at ₹1,000.07 crore. The company plans to issue up to 51.55 crore warrants on a private placement basis to both promoter group entities and non-promoter investors to support its growth and working capital requirements.

"In furtherance to the intimation dated June 3, 2026, and in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Notice of the Extraordinary General Meeting of the Shareholders of the Company, scheduled for Thursday, July 2, 2026, at 11:30 A.M. (IST), has been sent to shareholders holding equity shares as of June 5, 2026," the company stated in its regulatory filing.

Details of the Preferential Issue

According to the EGM notice, the warrants will be issued at a price of ₹19.40 each, comprising a face value of ₹2 and a premium of ₹17.40. Upon conversion, each warrant will translate into one fully paid-up equity share. The fundraising remains subject to further regulatory clearances.

The proposed allotment is distributed among the following entities:

Investor Warrants (in crore) Total Value (₹ in crore)
Phanes Limited 22.52 436.98
Hermes Limited 14.02 272.08
EBISU Global Opportunities Fund Limited 10.00 194.00
Nyaasa Global Fund VCC - Nyaasa India EM Sub Fund 5.00 97.00
Under the terms of the issue, investors must pay 25% of the warrant price at the time of allotment, with the remaining 75% payable upon conversion. The warrants may be converted into equity shares in one or more tranches within 18 months from the date of allotment.

Use of Proceeds and Market Performance

The company plans to deploy the proceeds across multiple growth initiatives. Of the total fundraise, ₹400 crore is earmarked for the growth plans of subsidiaries, while another ₹400 crore will be directed toward the company's working capital. Additionally, ₹150 crore is allocated to subsidiary working capital needs, and ₹50.07 crore is reserved for general corporate purposes. The company expects to utilize these funds within 18 months.

Regarding market performance, the stock recently declined approximately 4% to an intraday low of ₹23.80 amid broader weakness on Dalal Street. However, the stock has shown significant gains recently, rising 16% in the last month, 129% over the past three months, and 44% over the past year.