Indiabulls Housing Finance to raise up to Rs 7,000 crore via NCDs

Indiabulls Housing Finance on Monday said it will raise up to Rs 7,000 crore from non-convertible debentures (NCDs) to fund its business expansion.

"The Bond Issue Committee of the company... Approved the issue and allotment of secured redeemable non-convertible debentures and unsecured redeemable non-convertible debentures of face value of Rs 1,000 each, to base issue of Rs 3,500 crore with an over-subscription up to Rs 3,500 crore for issuance of additional NCDs aggregating up to Rs 7,000 crore," Indiabulls Housing Finance said in a regulatory filing.

The debentures are expected to carry a coupon rate in the range of 8.55-9.15 per cent.

Shares of Indiabulls Housing Finance were trading 0.48 per cent down at Rs 810.55 apiece on BSE.