Indiabulls Housing to buyback NCDs worth Rs 2,285 crore; stock rallies 8%

News reports say the company will conduct a buyback of all non-convertible debentures (NCDs) maturing in July and August totalling Rs 2,285 crore.

Shares of Indiabulls Housing Finance jumped as much as 7.8 per cent in the morning trade on Thursday after reports indicated that the company will conduct a buyback of all non-convertible debentures (NCDs) maturing in July and August totalling Rs 2,285 crore.

In an interview with CNBC-TV18 on Thursday, company's managing director and CEO Gagan Banga said Indiabulls Housing Finance's liquidity situation remained 'very strong', as it has raised around Rs 58,000 crore since September 2018 and has a cash buffer of Rs 28,000 crore.