Indiabulls Housing Finance (IBHFL), one of the leading home loan providers in India, is planning to raise Rs 100 crore through non-convertible debentures (NCDs). The company proposes to issue up to 1,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to up to Rs 100 crore (Plus Greenshoe Option), on Private Placement basis. As per the terms of the issue, the debentures will carry a coupon rate of 8.55 percent per annum. The issue will open and close on September 2, 2016.
IBHFL 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.
