12-Jul-2012 16:28 Subject Updates Announcement Housing Development Finance Corporation Limited has informed the Exchange that the Corporation on August 24, 2009 had issued and allotted 1,09,53,706 Warrants simultaneously with NCDs to domestic Qualified Institutional Buyers on a Qualified Institutions Placement (QIP) basis pursuant to and in accordance with the provisions of Chapter XIII-A of the SEBI (Disclosure and Investor Protection) Guidelines, 2000, with a right exercisable by the Warrant holder to exchange each Warrant with one equity share of Rs. 10 each of the Corporation, any time on or before August 24, 2012, at a Warrant Exercise Price of Rs. 3000 per equity share of Rs. 10 each of the Corporation. Consequent to the subdivision of the face value of the equity shares of the Corporation from Rs. 10 per equity share to Rs. 2 per equity share with effect from August 21, 2010, the Warrant Exercise Price was adjusted from Rs. 3000 per equity share of Rs. 10 each to Rs. 600 per equity share of Rs. 2 each and accordingly the number of Warrants outstanding were increased to 5,47,68,530. Further note that, as on date 86,99,570 Warrants have been exchanged with the equity shares of Rs. 2 each of the Corporation and consequently, 4,60,68,780 Warrants are outstanding. In this connection kind attention is invited to Clause 5.2.1 of the Terms and Conditions of the Warrants in the Placement Document dated August 21, 2009, wherein the Warrant holders are entitled to exercise their right to exchange the said Warrants up to 5 p.m. on August 24, 2012 in Mumbai (but in no event thereafter) (Warrant Exercise Period). Further, any Warrants which are not exercised on or before 5:00 p.m. on August 24, 2012, will lapse and cease to be valid and any amounts paid towards them to date will stand forfeited.
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