Indiabulls Housing Finance has raised Rs 3,996.79 crore by allotting over 5.69 crore shares to qualified institutional buyers (QIBs). The issue opened on September 8, and closed on September 11, 2015.
The company will use the issue proceeds to fulfill the capital adequacy requirements and funding needs of the company. Besides, the proceeds will also be used to meet company's general corporate purposes, investment of funds in interest or dividend bearing instruments and securities, including deposits with banks and investment in mutual funds.
Indiabulls Housing Finance, wholly owned subsidiary of Indiabulls Financial Services (IBFSL), is a registered HFC by National Housing Bank (NHB). It has presence through 78 branches in 57 cities across the country.
