Indiabulls Financial - Outcome Of Board Meeting

Indiabulls Financial Services Ltd has informed that the Board of Directors of the Company at its meeting held on May 15, 2007 has allotted 21,056,661 Equity Shares of par value Rs 2 per share, as underlying shares representing 21,056,661 Global Depositary Receipts (GDRs), each GDR representing 1 equity share and priced at USD 13.06.