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Indiabulls Housing Finance to raise up to Rs 7,000 crore through NCDs

26 Sep 2016 Evaluate

Indiabulls Housing Finance (IBHFL) is planning to raise up to Rs 7,000 crore through non-convertible debentures (NCDs). The bond issue committee of the company approved the issue and allotment of secured redeemable non-convertible debentures and unsecured redeemable non-convertible debentures of face value of Rs 1,000 each, to base issue of Rs 3,500 crore with an over-subscription up to Rs 3,500 crore for issuance of additional NCDs aggregating up to Rs 7,000 crore. As per the terms of the issue, the debentures are expected to carry a coupon rate in the range of 8.55-9.15 per cent. 

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.

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