Indiabulls Housing Finance raises Rs 1,030 cr by issuing bonds on private placement basis
Indiabulls Housing Finance Ltd on Monday said it has raised Rs 1,030 crore by issuing bonds on a private placement basis
New Delhi: Indiabulls Housing Finance Ltd on Monday said it has raised Rs 1,030 crore by issuing bonds on a private placement basis.
Indiabulls Housing allots redeemable NCDs of Rs 1,030 cr on a private placement basis. Company says NCDs have been subscribed by four large Indian public sector banks pic.twitter.com/KEHWyKwfn1
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The company on May 18 allotted 10,300 secured, redeemable, non-convertible debentures of face value Rs 10 lakh each, aggregating to Rs 1,030 crore, on a private placement basis, the company said in a regulatory filing.
The coupon rate on the bonds with three years tenor is 9.10 percent per annum (payable annually).
Shares of Indiabulls Housing Finance closed 10.87 percent down at Rs 118.85 on BSE.
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The company said it can raise the fund by way of public issue of secured and unsecured non-convertible debentures as well as issue of rupee denominated bonds overseas
Under the deal agreed between three founder-promoters, Indiabulls Housing Finance, Indiabulls Real Estate, Indiabulls Securities and Indiabulls Wholesale Services will see exit of Rattan and Mittal, giving full control to Gehlaut.<br />
The issue will open on 30 June and close on the same day