Indiabulls Housing Finance offers to pre-pay NCDs maturing in November, December 2019

Mumbai: Indiabulls Housing Finance on Thursday offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December this year. In a stock exchange filing, the company said it will also evaluate further pre-mature redemption of its NCDs from time to time. “The Company hereby issues an offer to all Debenture holder(s) for pre-mature redemption of its NCDs maturing in November and December 2019 at par,” the filing said. Indiabulls Housing Finance (IBH) continues to maintain strong liquidity with cash and cash equivalents at around 20 percent of its total assets as of 10 October, 2019, it added. “The Company has aggregate liquidity of more than Rs 18,500 crore as on October 10, 2019, which provides around 100 percent cover over IBH’s debt repayments till September 2020,” it added. [caption id=“attachment_6807781” align=“alignleft” width=“380”]  Representational image. Reuters.[/caption] Shares of Indiabulls Housing Finance rallied over 14 percent on Thursday after rating agency Crisil reaffirmed the company’s ratings and said it has aggregate liquidity to cover its debt repayment obligations till September 2020. Indiabulls Housing Finance gained 14.03 percent to close at Rs 197.15 on the BSE. Intra-day, the stock surged nearly 18 percent to touch a high of Rs 204. On NSE, the scrip settled 14.07 percent higher at Rs 197.40. The company’s market capitalisation (m-cap) surged Rs 1,036 crore to Rs 8,429.62 crore. In terms of traded volume, over 8 crore shares were traded on the NSE, while 77.96 lakh shares changed hands on the BSE.