Indiabulls Housing Finance will raise Rs 250 crore through private placement of non-convertible debentures (NCDs). The Company has proposed to issue 2500 Secured Non-Convertible Redeemable Debentures with a face value of Rs 10 lakh each aggregating to Rs 250 crore on Private Placement basis, pursuant to special resolution passed by the shareholders of the Company at the 10th Annual General Meeting held on September 07, 2015, on the terms and conditions.
The issue of secured non-convertible redeemable debentures will open on March 29, which has also been fixed as the allotment date. The NCDs would be of four-year tenor and would have an annual coupon rate of 9.25 per cent.
Indiabulls Housing Finance (IBHFL) is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB). The company has over 220 well appointed and accessible branches in 110 towns and cities across India.
