Indiabulls Housing raises Rs 1,030 crore via bonds on private placement basis

Indiabulls Housing Finance Ltd has raised Rs 1,030 crore (US$ 146.12 million) by issuing bonds on a private placement basis.

According to the company’s regulatory filing, on May 18, 2020, the company allotted 10,300 secured, redeemable, non-convertible debentures of face value Rs 10 lakh (US$ 14,186.4) each, aggregating to Rs 1,030 crore (US$ 146.12 million), on a private placement basis.

The coupon rate on the bonds with three years tenor is 9.10 per cent per annum (payable annually).

Shares of Indiabulls Housing Finance closed 10.87 per cent down at Rs 118.85 (US$ 1.68) on BSE on May 18, 2020.