30-Jan-2024
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Indiabulls Housing Finance announced on Sunday its plan to generate Rs 3,693 crore through a rights issue. This involves issuing equity shares at Rs 150 per share, each share having a face value of Rs 2. This decision comes following the company’s board of directors meeting on January 17, 2024, and subsequent approval by the Board’s Securities Issuance and Investment Committee (SIIC).
The company aims to issue a total of 24.62 crore equity shares to reach the targeted fundraising. The eligibility for equity shareholders to participate in this rights issue will be determined on Thursday, February 1, 2024, as per the record date set. The rights issue is scheduled to commence on Wednesday, February 7, 2024, and is expected to conclude on Tuesday, February 13, 2024, as per the details shared in the exchange filing on Sunday.
Indiabulls Housing Finance Product Portfolio
Founded in May 2005, Indiabulls Housing Finance Ltd. operates as a housing finance entity under the regulation of the Reserve Bank of India. It boasts of a ‘AA’ rating from both CRISIL and ICRA. As of March 31, 2023, its balance sheet stands at a substantial Rs 0.70 trillion.
Over the years, Indiabulls Housing Finance has successfully assisted over 1.4 million customers, disbursing loans exceeding Rs 3.08 trillion. The company maintains a strong national footprint, including offering India’s pioneering online home loan service, eHome Loans.
With a network of over 200 offices across India and an additional facility in Dubai catering to NRI and PIO clientele, IBHFL focuses on providing efficient, accessible, and competitively priced home loans, particularly in the affordable housing segment. The company is dedicated to enhancing the home-buying experience for its clients and plays a significant role in bolstering the affordable housing finance sector.
Financial Performance of Indiabulls Housing Finance Limited (In Rs Crore)
Between the fiscal years ending March 31, 2022, and March 31, 2023, Indiabulls Housing Finance Limited experienced a 2.98% decline in its revenue, alongside a 4.08% reduction in its profit after tax (PAT).
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 74,945.24 | 81,973.32 | 93,239.03 |
| Revenue | 8,725.79 | 8,993.90 | 10,030.12 |
| Profit After Tax | 1,129.69 | 1,177.74 | 1,201.59 |
Important Details of Indiabulls Housing Finance Limited Rights Issue 2024
| Issue Open | February 7, 2024 – February 13, 2024 |
| Security Name | Indiabulls Housing Finance Limited |
| Issue Size (Shares) | 246,226,515 |
| Issue Size (Amount) | Rs 3,693.40 Crores |
| Issue Price | Rs 150 per share |
| Face Value | Rs 2 per share |
| Listing At | BSE, NSE |
| Terms of Payment | Yet to be announced |
| Entitlement | 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
Indiabulls Housing Finance Limited Rights Issue 2024 Timetable
| Last Date to buy shares | 31-Jan-24 |
| Record Date | 1-Feb-24 |
| Credit of Rights Entitlements | Yet to be announced |
| Bid/Offer Opens On | 7-Feb-24 |
| Renunciation of Rights Entitlements | 8-Feb-24 |
| Bid/Offer Closes On | 13-Feb-24 |
| Deemed Date of Allotment | Yet to be announced |
| Credit Date | Yet to be announced |
| Listing Date | Yet to be announced |
The Objectives of Indiabulls Housing Finance Limited Rights Issue 2024
The Objectives of Indiabulls Housing Finance Limited Rights Issue 2024 are yet to be announced.
Indiabulls Housing Finance Rights Issue 2024 Lead Manager(s)
The lead manager(s) of Indiabulls Housing Finance Rights Issue 2024 are yet to be announced.
How to Apply for Indiabulls Housing Finance Limited Rights Issue 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Indiabulls Housing Finance Limited Rights Issue 2024 with Bigul: https://www.bonanzaonline.com/
How to Check Allotment Status of Indiabulls Housing Finance Limited Rights Issue 2024
The registrar for Indiabulls Housing Finance Limited Rights Issue 2024 is yet to be announced.
FAQs
- What are the important details of the Indiabulls Housing Finance Limited Rights Issue 2024?
The Rights Issue refers to Indiabulls Housing Finance’s plan to raise Rs 3,693 crore by issuing equity shares at Rs 150 per share, each with a face value of ₹2. This involves issuing 24.62 crore equity shares.
- When is the Rights Issue scheduled to open and close?
The Rights Issue is set to open on February 7, 2024, and close on February 13, 2024.
- How can I participate in the Rights Issue?
Equity shareholders, as of the record date, February 1, 2024, are eligible to participate. You can apply for the Rights Issue via the link provided once the issue opens.
- What is the issue price and face value of the shares?
The issue price is set at Rs 150 per share, with a face value of Rs 2 per share.
- Where will the shares be listed?
The shares will be listed on the BSE and NSE.
- How can I check the allotment status of the Rights Issue?
The allotment status can be checked once the registrar for the Rights Issue is announced and the allotment is completed.
- What is the last date to buy shares to be eligible for the Rights Issue?
The last date to buy shares to be eligible for the Rights Issue is January 31, 2024.
- What are the objectives of the Rights Issue?
The specific objectives of the Rights Issue for 2024 are yet to be announced by Indiabulls Housing Finance Limited.
- Who are the lead managers for the Rights Issue?
The lead manager(s) for the Rights Issue 2024 are yet to be announced.
- How has Indiabulls Housing Finance performed financially in recent years?
Indiabulls Housing Finance witnessed a 2.98% decrease in revenue and a 4.08% drop in profit after tax (PAT) between the fiscal years ending March 31, 2022, and March 31, 2023.