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Indiabulls Housing heads north on plans of foreign borrowing

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Capital Market
Last Updated : Jan 25 2018 | 12:50 PM IST

Indiabulls Housing Finance gained 2.82% to Rs 1,398 at 12:05 IST on BSE after the company said that it is contemplating subject to market conditions, to undertake the issue of bonds to overseas investors.

The announcement was made after market hours yesterday, 24 January 2018.

Meanwhile, the S&P BSE Sensex was down 128.14 points or 0.35% at 36,033.50.

On the BSE, 34,433 shares were traded on the counter so far as against average daily volumes of 3.27 lakh shares in the past one quarter. The stock had hit a high of Rs 1,403.60 and a low of Rs 1,350.35 so far during the day. The stock had hit a record high of Rs 1,409.95 yesterday, 24 January 2018. The stock had hit a 52-week low of Rs 741.30 on 24 January 2017.

The large-cap company has equity capital of Rs 85.29 crore. Face value per share is Rs 2.

The pricing of the bonds will be decided by the bond issue committee of the company on or after 30 January 2018. The proposed offering is of Rupee denominated dollar settled (bonds) under the Euro medium term note programme. In October 2017, the board of the company had approved the issue of bonds to foreign investors.

Separately, the company yesterday, 24 January 2018, allotted its sixth tranche of secured, redeemable, non-convertible debentures aggregating to Rs 525 crore. In December 2017, company had proposed to issue, secured, redeemable, NCDs aggregating Rs 24000 crore on a private placement basis. The above issue is with reference to this proposal.

Indiabulls Housing Finance's consolidated net profit jumped 55.4% to Rs 1167.73 crore on 36.7% growth in total income to Rs 4105.66 crore in Q3 December 2017 over Q3 December 2016.

Also Read

Indiabulls Housing Finance provides home loans in the affordable housing segment.

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First Published: Jan 25 2018 | 12:21 PM IST

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