Indiabulls Ventures to mull fund-raising plans

The board of directors of Indiabulls Ventures is scheduled to meet on Wednesday to discuss fund-raising plans through preferential allotment. The compulsorily convertible debentures would be placed with PE players Tamarind, Steadview Capital, ABG Capital and DF International. Indiabulls Ventures plans to raise ₹1,540 crore. The company will use the proceeds of the issue for its Indiabulls Consumer Finance and Indiabulls Asset Reconstruction.