Indiabulls Housing Finance to raise Rs 250 cr via NCDs

Indiabulls Housing Finance today said it will raise Rs 250 crore through private placement of non-convertible debentures (NCDs).
The issue of secured non-convertible redeemable debentures will open on March 29, which has also been fixed as the allotment date, the company said in a BSE filing.
The NCDs would be of four-year tenor and would have an annual coupon rate of 9.25 per cent.
Indiabulls had raised Rs 18,000 crore from the markets
in the second quarter, Chaudhary said.
When asked whether the company expects a further uptick in credit demand, Chaudhary answered in the affirmative and said they hope to close the current financial with a 30- 35 per cent credit growth.

Last Friday, Indiabulls had reported its highest-ever net profit growth at Rs 751 crore, up 25 per cent on a 30 per cent jump in loan growth.
Indiabulls also crossed the Rs 1-trillion balancesheet milestone during the quarter at Rs 1,02,406 crore.
"Our loan book clipped at 30 per cent, driven primarily by the affordable housing sector loans, registering a net growth of a little above Rs 6,000 crore during the quarter as we did not see any impact of the noteban which dominated most of the reporting period," Banga had told