Indiabulls Housing Finance on Tuesday announced that its board has approved a proposal to raise funds through various modes.
In a regulatory filing, Indiabulls Housing said, The board has approved issuance of unsecured and/or secured, listed and/or unlisted, redeemable non-convertible debentures, with or without warrants or any other similar security denominated in INR, or combination thereof, in one or more tranches for an aggregate amount up to Rs 5,000 crore on private placement basis or otherwise.
The housing finance company further said, To augment the long term resources and to maintain sufficient liquidity for meeting funding requirements of its business activities, raising of funds, aggregating upto $275 million only or its equivalent in Indian rupees or in any other currency, through private/public offerings of equity shares, compulsorily convertible debentures, foreign currency convertible bonds (FCCBs), among other instruments, in foreign currency, in one or more tranches.
Shares of Indiabulls Housing Finance were trading 0.7% higher at Rs 265.85 on BSE.
Indiabulls Housing Finance is a housing finance company, regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.
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