Highlights

  • D B Realty raising money to pay off debt
  • Rakesh Jhunjhunwala and wife to invest in D B Realty

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Rakesh Junjhunwala to invest in D B Realty; stock hits upper circuit

D B Realty to issue convertible warrants to RARE Investments and Rekha Jhunjhunwala

Rakesh Junjhunwala to invest in D B Realty; stock hits upper circuit

Rakesh Jhunjhunwala has sent the stocks of D B Realty to hit the upper circuit in Wednesday's trading session.

D B Realty, in its exchange filing, stated that Big Bull's RARE Investments and his wife Rekha Jhunjhunwala would invest in the company through its warrants issue.

Shares of DB Realty surged to hit the 5% upper circuit level at Rs 116.

The company's board has approved to raise funds via issue of 50 million warrants convertible into equivalent number of equity shares.

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Rakesh Jhunjhunwala is referred to as the 'Big Bull' in the Indian stock market.

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