HB ESTATE DEVELOPERS LTD. - Outcome of Securities Committee Meeting

HB Estate Developers Ltd has informed BSE that the Securities Committee of the Board of Directors of the Company in its meeting held on March 23, 2015 has allotted Twenty (20) Lakhs Redeemable Non-Cumulative Non-Convertible Preference Shares - Series II of face value of Rs. 100/- each carrying Non-Cumulative Preference Dividend of 9% on Private Placement basis.<BR><BR>a. Type of securities allotted - Preference Shares.<BR><BR>b. Type of issuance - Private Placement<BR><BR>c. Total amount for which the securities allotted (Tranche-3) - Rs. 20 Crores.