Indiabulls Real Estate Limited announced a private placement of 91,355,606 common shares at a price of INR 111.51 per share for the gross proceeds of INR 10,187,063,625.06 and 259,119,201 warrants at a price of INR 27.8775 per warrant for the gross proceeds of INR 7,223,595,525 for the total gross proceeds of INR 17,410,659,151 on July 13, 2024. The warrants will be convertible into common shares of the company at an exercise price of INR 83.6325 per share. The transaction will include participation from Quant Mutual Fund - Quant Active Fund, a fund managed by, Escorts Finance Limited, Asset Management Arm, Baillie Gifford Worldwide Funds PLC - Baillie Gifford Worldwide Asia ex Japan Fund, a fund managed by, Bellanza Developers Private Limited, CLSA Global Markets Pte.

Ltd., Baillie Gifford Overseas Limited, Ncl Sg Holdings Pte. Ltd. and other investors. The transaction has been approved by the shareholders of the company.