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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.





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