Real estate developer Indiabulls Real Estate Limited witnessed strong buying interest on Thursday, with its shares surging nearly 4% to a fresh 52-week high after the company announced plans to raise up to ₹1,000.07 crore through a preferential issue of convertible warrants to promoter group entities and institutional investors.
The fundraising proposal was approved by the company’s board of directors at its meeting held on June 3, 2026, and is aimed at strengthening the company’s capital base while supporting future growth initiatives.
Under the approved proposal, Indiabulls will issue up to 51.55 crore warrants on a preferential basis at an issue price of ₹19.40 per warrant, including a premium of ₹17.40 per share. Each warrant will be convertible into one fully paid-up equity share of the company.
In a regulatory filing, the company stated that the board had approved the raising of funds aggregating up to ₹1,000.07 crore through the issuance of warrants convertible into an equivalent number of equity shares.
The warrants may be converted into one or more tranches within 18 months from the date of allotment, offering investors flexibility while providing the company with access to long-term growth capital.
Promoter Entities Lead Subscription
The proposed issue will be subscribed by a mix of promoter group entities and institutional investors.
Among the promoter group participants, Phanes Limited will be allotted 22.52 crore warrants, while Hermes Limited is slated to receive 14.02 crore warrants.
On the institutional side, EBISU Global Opportunities Fund Limited will subscribe to 10 crore warrants, while Nyaasa Global Fund VCC – Nyaasa India EM Sub Fund will receive 5 crore warrants.
Collectively, these four investors will subscribe to the entire proposed issue of 51.55 crore warrants.
To secure shareholder approval for the preferential allotment, the company has convened an Extraordinary General Meeting (EGM) on July 2, 2026, through video conferencing and other audio-visual means.
Stock Climbs to Fresh One-Year High
Following the announcement, Indiabulls shares climbed as much as 3.7% to ₹25.18 apiece on the BSE, marking a new 52-week high. The stock has staged a remarkable recovery from its 52-week low of ₹8.93 touched in February this year.
The counter has delivered strong returns across timeframes, gaining approximately 23% over the past month and soaring 142% during the last three months. On a one-year basis, the stock has advanced around 52%, reflecting renewed investor confidence in the company’s turnaround strategy.
Profitability Returns in FY26
The fundraising announcement comes at a time when Indiabulls has reported a significant improvement in its financial performance.
For the quarter ended March 2026, the company returned to profitability with a consolidated net profit of ₹194.26 crore, compared with a net loss of ₹164.17 crore in the corresponding quarter of the previous year. Total income during the quarter surged to ₹418.39 crore from ₹149.15 crore a year earlier.
The turnaround was also visible at the full-year level. For FY26, Indiabulls posted a consolidated net profit of ₹346.13 crore against a net loss of ₹272.73 crore in FY25. Total income increased to ₹880.78 crore from ₹539.95 crore in the previous financial year.
Strong Sales Momentum Supports Growth Outlook
Operational performance remained robust during FY26, with the company recording sales bookings worth ₹2,752 crore. Indiabulls sold 909 residential units during the year, covering a total saleable area of 21.6 lakh square feet.
The combination of fresh capital infusion, improved profitability, and healthy sales momentum has strengthened market sentiment around the stock, helping propel shares to their highest level in the past year.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
