Indiabulls Housing Finance is planning to raise up to $600 million by offering equity to institutional investors via qualified institutional placement (QIP). The primary issue size is $500 million with an option to retain subscription of an additional $100 million. The dilution of equity stake that will take place with this issue ranges between 11.6% and 13.6%. The company has set indicative offer price at Rs 702 a share.

Indiabulls Housing Finance (IBHFL), wholly owned subsidiary of Indiabulls Financial Services (IBFSL), is a registered HFC by National Housing Bank (NHB). It has presence through 78 branches in 57 cities across the country.