Indiabulls Housing raises Rs 600 cr

Indiabulls Housing Finance has raised Rs 600 crore by issuing debt securities on private placement basis.
The amount raised is part of company's plans to raise Rs 6,000 crore for business growth.
Indiabulls Housing said its board today authorised to allot the seventh tranche of secured, redeemable, non- convertible debentures of face value of Rs 10 lakh each aggregating to Rs 600 crore.
Of the tranche, Rs 100 crore was part of the green-shoe option, it said in a regulatory filing.
The bonds with 5 years tenure bear coupon rate of 8.57 per cent per annum to be payable semi-annually.

The first payment of interest will start from September 21 and will stretch up to March 21, 2022.
Indiabulls Housing stock closed 3.22 per cent down at Rs 933.50 on BSE.