Indiabulls Housing Finance plans to raise Rs.300 crore


New Delhi: Indiabulls Housing Finance is planning to raise issuance of non-convertible redeemable debentures worth Rs 300 crore.

“The company proposes to issue 30,000 unsecured non- convertible redeemable debentures (Tier-II) in the nature of subordinated debt with a face value of Rs 1 lakh each aggregating to Rs 300 crore (plus greenshoe option) on a private placement basis,” the company said in a BSE filing.

The issue will open on June 29, and close on the same day. The non-convertible redeemable debentures have 10-year tenure with a 9.30 per cent per annum coupon rate and are proposed to be listed on the NSE and BSE.