Indiabulls Real Estate has raised Rs 480 crore through issue of Non-Convertible Debentures (NCDs) of face value Rs 10 lakh each, on private placement basis.
The NCDs worth Rs 240 crore has been issued for 24 months tenor with maturity in June 2020 and the rest for 36 months tenor with maturity in June 2021. The coupon rate for both the series of NCDs is 9.5%.
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.
