Indiabulls Fin to buyback NCDs, masala bonds worth Rs 2,705 cr in Sept

The second largest pureplay mortgage lender Indiabulls Housing Finance on Wednesday said it will buyback debt worth Rs 2,705 crore from the investors before their maturity.

The company will buy back non-convertible debentures (NCDs) and masala bonds maturing this September aggregating to Rs 1,375 crore which includes Rs 660 crore issued by way of a public issue.

Besides, the company is also giving early redemption option to investors to buy back Rs 1,330 crore of Masala bonds maturing in October.

"On the back of strong cash position, we will now offer investors to buyback (early redemption) of NCDs and masala bonds, subject to applicable laws and debenture/bond holders consent," the statement said.

 

The company has already initiated the approval process with Reserve Bank for the early redemption of the masala bonds, it added.

It had already bought back Rs 2,173 crore of NCDs maturing in July and August from investors.