SEBI has levied a ₹40 lakh penalty on Shri Ram Real Estate & Business Solutions and six individuals for illicitly raising ₹40,000 via collective investment schemes.
This Diwali, the realty industry anticipates growth, with 12 public offerings and robust fund inflows, reinforcing positive market sentiment after a challenging period.
Indiabulls Real Estate will raise $500 million from Qualified Institutional Buyers by issuing equity shares or convertible debentures. The decision, approved by shareholders, comes as the company's shares closed down 3.7% on BSE.