Indiabulls Housing Finance to raise up to Rs 100 crore via non-convertible debentures

Indiabulls Housing Finance on Wednesday said it plans to raise up to Rs 100 crore through issuance of non-convertible debentures (NCDs).

"The company proposed to issue up to 1,000 secured non-convertible redeemable debentures with face value of Rs 10 lakh each aggregating to up to Rs 100 crore (plus greenshoe option, if any) on a private placement basis," Indiabulls Housing Finance said in a regulatory filing.

Indiabulls Housing Finance said the issue will open on September 2 and close on the same date. The tenor of the bonds will be 2-5 years.

The bonds would carry coupon rate of 8.55 per cent per annum.

Last week, Indiabulls Housing Finance said it has raised over Rs 7,000 crore since July 1 through issuance of NCDs.

Shares of Indiabulls Housing Finance were trading 0.43 per cent higher Rs 834 on BSE in the morning trade.