IBHFL to issue Rs 15,000 crore worth NCDs next week

Company's issue opens on Tuesday and closes on the same day

Indiabulls Housing Finance Ltd (IBHFL) will open Rs 15,000 crore non-convertible debentures (NCDs) issue next week.

"The company proposes to issue Rs 15,000 secured non- convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 1,500 crore (plus greenshoe option), on private basis," the company said in a regulatory filing.

Company's capital raise plan is in accordance with its AGM meeting resolution passed by shareholders in September 2015.

The issue opens on Tuesday and closes on the same day, it said. The NCDs carrying coupon rate of 8.57-8.80 per cent per annum has tenor of 5 years.

 

Last week, the company informed about raising Rs 1,000 crore (with greenshoe option) by issuing NCDs on a private placement basis.

Indiabulls Housing Finance shares were trading 0.74 per cent down at Rs 776 on BSE.