Indiabulls Housing Finance to raise Rs 625 crore

Indiabulls Housing Finance had earlier said it was planning to raise Rs 300 crore through issuance of non-convertible redeemable debentures.

By: PTI | New Delhi | Published: June 28, 2016 3:31:48 pm
According to the company, it has received regulatory approvals in India and UK for the acquisition. According to the company, it has received regulatory approvals in India and UK for the acquisition.

Indiabulls Housing Finance is planning to raise Rs 625 crore through issuance of non-convertible redeemable debentures, the company said on Tuesday.

“The company proposes to issue 6,250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 625 crore (plus greenshoe option) on a private placement basis,” the company said in a BSE filing.

The issue will open on June 30 and close on the same day.

The non-convertible redeemable debentures will have a coupon rate of 9 per cent and are proposed to be listed on NSE and BSE.

Last week, the company said it is planning to raise Rs 300 crore through issuance of non-convertible redeemable debentures.

The scrip was trading 0.19 per cent lower at Rs 657.60 on BSE.

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