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India's Housing Development Finance issues new shares

Housing Development Finance Corp. Ltd. approved the allotment of 25,448,174 new equity shares.

The company said Feb. 15 it issued 24,933,574 shares to eight investors at 1,726.05 rupees apiece on a preferential basis, and 514,600 equity shares at a premium of 1,487 rupees per share to three warrant holders.

Following the allotment of new shares, the company's paid-up capital increased to approximately 3.25 billion rupees consisting of 1,623,336,219 equity shares of 2 rupees each.

As of Feb. 15, US$1 was equivalent to 63.93 Indian rupees.