Indiabulls Housing Finance's Rs 900-crore NCD issue opens on Friday
Indiabulls Housing Finance on Thursday announced a Rs 900-crore debt sale through a public issue of secured, redeemable, non-convertible debentures. The base size of the issue is only Rs 100 crore with a greenshoe option for an additional Rs 800 crore. The public issue opens on Friday and closes March 17, the company said in a statement. The company is offering coupon rates ranging from 8.88 per cent to 10.15 per cent per annum and post-close, the issue will be listed on BSE and NSE. The NCDs have tenures of 24 months (series I, II & III), 36 months (series IV, V & VI), and 60 months (series VII & VIII). The company is also offering an additional incentive 0.25 per cent per annum to category III and IV investors, who are also primary holders on the deemed date of allotment, the company said. At least 75 per cent of the net proceeds of the issue will be utilised for onward lending, financing, and for repayment of interest and principal of existing borrowings and the balance02-03-2023
