Indiabulls Housing Finance has raised Rs 1,000 crore by issuing bonds on a private placement basis. The company has allotted 100,000 unsecured redeemable non-convertible subordinated debentures of face value of Rs 1 lakh each aggregating to Rs 1,000 crore.
The bonds were issued in two tranches of Rs 100 crore and Rs 900 crore, in which the former has a tenor of 7 years and the latter 10 years. The bonds will yield a coupon rate of 8.35% per annum.
Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).