According to the BSE website, the last traded price of the bond was Rs 60.38, for a trade size of Rs 135 crore
Moody's on Monday downgraded the corporate family rating and the foreign currency senior secured rating of the housing finance company to B2 from Ba2 citing funding challenges for the company.
Rating agency says continued decline in on-balance sheet loans is a reflection of its funding challenges
We have raised about Rs 3,000 crore from banks in the last 10 days, said Gagan Banga
The IBHFL stock tumbled 18.85% to close at Rs 195 on the BSE.
The uncertainty over the deal as well as legal woes have led to a run on the stock valuations of both the companies which have lost nearly half of their pre-merger-announcement value
The stock, which is trading at its lowest level since March 2014, has seen its market capitalisation fall below Rs 10,000 crore-mark in past two weeks.
On Wednesday evening, the Reserve Bank of India quashed a proposed merger of Indiabulls Housing Finance Ltd., one of the country's largest real-estate lenders, with Lakshmi Vilas Bank Ltd
The tax department is probing overseas investments carried out by Gehlaut and his family trusts
Indiabulls MF saw its average asset size shrink 50 per cent; PGIM India MF and IDBI MF saw around 20 per cent reduction
That has erased almost half of the surge sparked by the Sept 20 announcement of a landmark corporate tax cut
As lenders stop new credit, builders are forced to offload properties
Das explained placing a lender under PCA framework is normal with lot of precedents
The S&P BSE Sensex Index posted its third day of losses on Tuesday, ending a surge since the Sept 20 announcement of the tax cuts
The development represents an effort to get out ahead of recent headlines that contributed to its share price losing an unprecedented 34% slump on Monday. Shares rebounded 5% on Tuesday
Thus far in financial year 2019-20 (FY20), the market value of Indiabulls group companies have underperformed the market by falling in the range of 53 per cent to 74 per cent.
The RBI placing Lakshmi Vilas Bank under PCA framework amidst the proposed merger, and litigation against the housing financier are perceived negatively by investors
Here's a look at some of the top headlines of the day
Indiabulls Housing Finance saw its sharpest intra-day fall since listing, plunging 38 per cent to Rs 240, also its 52-week low on the BSE. The trading volumes on the counter jumped four-fold
PIL alleges fund diversion, accounting irregularities at Indiabulls, seeks SIT probe into the company, HC issues notice