Indiabulls Housing to foreclose NCD issue

Indiabulls Housing Finance (IBHFL) today said it will foreclose its Rs 7,000 crore fund raising plan via NCDs tomorrow owing to an overwhelming response.

"The company saw an overwhelming response with more than 190 per cent subscription on the base issue of Rs 3,500 crore. The company has decided to close its public issue of NCDs on Friday 16th September 2016, the second day since opening," it said in a regulatory filing.

The issue, which was opened on Thursday, was supposed to close on September 23, 2016.

Earlier this week, the company had announced to raise Rs 3,500 crore with green shoe option to retain over-subscription upto the same amount aggregating to Rs 7,000 crore through public issue of non-convertible debentures (NCDs).