Indiabulls Real Estate has raised Rs 500 crore through the issue of non-convertible debentures (NCDs) on private placement basis. The amount has been raised at a coupon rate of 9 per cent for tenure of 36 months. The shareholders had approved this proposal through a special resolution passed at annual general meeting held in September last year.
Recently, the promoters had sold 3.3 crore shares of the company for about Rs 662.83 crore through an open market transactions.
Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.