Indiabulls Housing Finance is planning to raise Rs 300 crore by issuing Unsecured Non-Convertible Redeemable Debentures (Tier II) in the nature of subordinated debt on private placement basis.
The housing finance company will be issuing 30,000 debentures of 10 years maturity in the nature of subordinated debt with a face value of Rs 1 lakh each aggregating Rs 300 crore (plus greenshoe option). The debentures will carry a coupon rate of 9.30 per cent per annum. The issue will open and close on June 29.
Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).
