Breaking News

You are here » Indian-Commodity  :  Corporate  :  Indiabulls Housing eyeing to raise up to Rs 700 crore on private placement basis

19-Aug2016

Indiabulls Housing eyeing to raise up to Rs 700 crore on private placement basis

Indiabulls Housing Finance has proposed to issue up to 7,000 Secured Non-Convertible Redeemable Debentures with a face value of Rs 10 lakh each aggregating up to Rs 700 crore (plus Greenshoe Option, if any), on private placement basis, pursuant to special resolution passed by the shareholders of the company at the Annual General Meeting held on September 7, 2015.

The issue will be opened and closed on August 23, 2016. The bonds will be listed on National Stock Exchange of India (NSE) and BSE (BSE). It will carry a tenor of 5 years and coupon will be in range of 8.55% to 8.80% per annum (payable annually and at maturity). CARE has assigned 'AAA' and Brickwork Rating has assigned 'AAA' rating to the said instrument.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB). The company serviced more than 8 lakh customers and has cumulatively disbursed loans of over Rs 1 lakh crore as of the last financial year.





Related News

View all news

Cenlub Industries planning to incorporate wholly owned subsidiary

Cenlub Industries is planning to incorporate wholly owned subsidiary. The board of directors of the company will consider the same in the board meeting to be held on March 02, 2019. Cenlub Industries is......

Asahi Songwon Colors to shutdown CPC Crude Blue Plant

Asahi Songwon Colors has planned a shutdown of CPC Crude Blue Plant at Padra, Vadodara district with effect from February 24, 2019 to carry out the periodic maintenance. The shutdown will affect CPC Crude......

Godfrey Phillips India's arm divests entire stake in Gopal Krishna Infrastructure

Godfrey Phillips India's step down subsidiary-- Unique Space Developers has divested its entire stake in Gopal Krishna Infrastructure & Real Estate (100% subsidiary of Unique Space Developers)......

Top News

View all news

City Union Bank opens four new branches in Tamil Nadu

City Union Bank has opened four new branches in the state of Tamil Nadu on February 22, 2019. The bank has inaugurated 621th and 622nd branch at Nambiyur and Moolapalayam, respectively. The bank has also......

Syndicate Bank enters into partnership with Srei Equipment Finance

Syndicate Bank has entered into partnership with Srei Equipment Finance to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost......

Tata Motors to supply 80 Electric buses to West Bengal Transport Corporation

Tata Motors will supply 80 Electric buses to the West Bengal Transport Corporation (WBTC). The company has already supplied 20 Ultra Electric 9/9m AC E-buses, with remaining 20 9/9m AC E-buses scheduled......