Indiabulls Share Price Surges as Company Raises ₹1,000 Crore via Convertible Warrants

Real estate firm Indiabulls saw its share price rise by around 4% to its 52-week high after the company's board approved a proposal to raise up to ₹1,000.07 crore through the issuance of convertible warrants. The decision was made during a board meeting held on June 3, 2026.

Indiabulls plans to issue up to 51.55 crore warrants 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.

The Board of Directors has approved the raising of funds up to ₹1,000.07 crore through the issuance of up to 51.55 crore warrants, convertible into an equivalent number of fully paid-up equity shares. This move is part of the company's strategy to strengthen its financial position and support its growth initiatives.

Among the promoter group entities, Phanes Limited will be allotted 22.52 crore warrants, while Hermes Limited will receive 14.02 crore warrants. On the non-promoter side, EBISU Global Opportunities Fund Limited will be allotted 10 crore warrants, and Nyaasa Global Fund VCC – Nyaasa India EM Sub Fund will receive 5 crore warrants. Together, these four investors will subscribe to the entire proposed issue of 51.55 crore warrants.

The company has scheduled an Extraordinary General Meeting (EGM) on July 2, 2026, through video conferencing and other audio-visual means to seek shareholder approval for the preferential issue. According to the filing, each warrant can be converted into one fully paid-up equity share and may be exercised in one or more tranches within 18 months from the date of allotment.

The Indiabulls stock rose as much as 3.7% to its day's high of ₹25.18 per share on BSE, marking its 52-week high. The stock had previously touched its 52-week low of ₹8.93 on February 25. The real estate stock has been performing well in recent times, with a 23% increase in the past month and a 142% surge over the last three months. In the last year, the scrip is up 52%.

Indiabulls returned to profitability in the March 2026 quarter, reporting a consolidated net profit of ₹194.26 crore compared to a net loss of ₹164.17 crore in the corresponding quarter last year. The company's total income also saw strong growth, rising to ₹418.39 crore in Q4 FY26 from ₹149.15 crore a year earlier.

For the full FY26, Indiabulls posted a net profit of ₹346.13 crore against a net loss of ₹272.73 crore in FY25. Total income increased to ₹880.78 crore during the financial year, up from ₹539.95 crore in the previous fiscal. The company also reported healthy operational performance during FY26, recording sales bookings of ₹2,752 crore. During the year, it sold 909 units covering a total area of 21.6 lakh square feet.

Commenting on the results, Divyesh Shah, Executive Director and CEO, said, “FY26 saw meaningful progress with a stronger structure, a focused strategy, and a real estate pipeline that provides visibility into FY27. We also acknowledge the continued support of Sameer Gehlaut, founder and promoter of Indiabulls Limited, whose completion of his warrant subscription of over ₹400 crore last year reflects his confidence in the company he founded twenty-six years ago.”

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.