Indiabulls Housing Finance raises up to Rs 7,000 cr via NCDs for biz expansion

The debentures are expected to carry a coupon rate in the range of 8.55-9.15 percent

PTI September 27, 2016 12:22:57 IST
Indiabulls Housing Finance raises up to Rs 7,000 cr via NCDs for biz expansion

New Delhi: Indiabulls Housing Finance Monday has raised up to Rs 7,000 crore from non-convertible debentures (NCDs) to fund its business expansion.

Indiabulls Housing Finance raises up to Rs 7000 cr via NCDs for biz expansion

Reuters

"The Bond Issue Committee of the company... approved the issue and allotment of secured redeemable non-convertible debentures and unsecured redeemable non-convertible debentures of face value of Rs 1,000 each, to base issue of Rs 3,500 crore with an over-subscription up to Rs 3,500 crore for issuance of additional NCDs aggregating up to Rs 7,000 crore," Indiabulls Housing Finance said in a regulatory filing.

The debentures are expected to carry a coupon rate in the range of 8.55-9.15 percent.

Shares of Indiabulls Housing Finance were trading 0.48 percent down at Rs 810.55 apiece on BSE.

(This story has been corrected.)

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