Indiabulls Housing Raised Rs 7,000 Crore Since July 1 Via NCDs

Press Trust of India

25 Aug 2016, 12:10 PM IST

Last week, Indiabulls Housing said it proposes to raise over Rs 1,600 crore from NCDs.

New Delhi: Indiabulls Housing Finance on Thursday said it has raised over Rs 7,000 crore since July 1 through issuance of non-convertible debentures (NCDs).

"The company has allotted secured, redeemable, non-convertible debentures, for an amount aggregating to Rs 7,030 crore on a private placement basis, from July 1, 2016 till date," Indiabulls Housing Finance said in a regulatory filing.

Last week, Indiabulls Housing Finance said it proposes to raise over Rs 1,600 crore from non-convertible debentures (NCDs) to fund business expansion.

The company proposes to issue up to 16,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to up to Rs 1,600 crore plus green-shoe option on private placement basis.

Shares of Indiabulls Housing Finance were trading 0.84 per cent higher Rs 814.65 on BSE in the morning trade.

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