Indiabulls Housing Finance to raise Rs 1000 crore through NCDs issue

Indiabulls Housing Finance has decided to raise Rs 1000 crore by issuing non-convertible redeemable bonds (NCDs) on a private placement basis. The company proposes to issue 10,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 1,000 crore (plus greenshoe option), on a private placement basis. The decision came in the wake of a resolution that was passed by the shareholders at an Annual General Meeting held on September 7, 2015.

Indiabulls Housing Finance (IBHFL) is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).