CHD Developers allotted equity shares and warrants on preferential basis

CHD Developers Ltd (“CHD”)., an established and well recognized real estate brand of Delhi-NCR & Haryana allotted 1.5 crore equity shares of face value of Rs. 2/- each and 4.5 crore fully convertible warrants (Warrants), for cash, at an issue price of Rs. 14.52 per equity share/ Warrant (including a premium of Rs. 12.52 per equity share/ warrant) on preferential basis.

CHD shall raise approximately 87 Cr by way of investment from Promoters and Mr. Ashish Kacholia with few other renowned investors. Out of the total issue size, CHD has already raised 38 Cr and the remaining amount of 49 Cr against warrants will be received within a period of 18 months from the date of Allotment.

The aforesaid allotment had resulted in significant improvement of debt equity ratio and also there has been increase in market capitalization of CHD from 194 Cr (27.02.2018) to 225 Cr (11.04.2018) by way of addition of 1.5 Crore shares to its capital.

CHD has delivered projects in both residential and commercial domain & stands tall on the foundation of its value of timely delivery. The management has planned to infuse proceeds of allotment into construction of ongoing projects for their faster completion and on time delivery.

“At CHD we believe in timely delivery and we are sticking to the commitment. We are thankful to our patrons and investors for their overwhelming response: taking such a leap would not have been possible without their trust in us.” said Mr. Gaurav Mittal, MD, CHD Developers Ltd.