India Homes Limited's board approved preferential issue of 1,50,70,000 equity shares at Rs. 14.60/share to convert Rs. 22,00,22,000 promoter unsecured loans into equity.
Three promoters — Sudhir H. Gupta, Varun S. Gupta, and Siddharth S. Gupta — are the allottees; subject to BSE approval.
Post-allotment paid-up capital rises from Rs. 39,80,80,925 to Rs. 41,31,50,925, reflecting 1,50,70,000 new shares at Re. 1 face value.