Indiabulls Housing to raise up to Rs 1,000 cr via NCDs

Indiabulls Housing Finance on Friday said it will raise up to Rs 1,000 crore by issuing debt securities. The company proposes to issue 10,000 secured non-convertible redeemable debentures aggregating to Rs 1,000 crore on private placement basis, it said in a regulatory filing.

The base issue size is of Rs 100 crore with a green shoe option of Rs 900 crore, it said. The issue opens on April 29, 2020, it said, adding the tenor of the bonds is of three years.

The bonds are rated 'CRISIL AA' by CRISIL and 'BWR AA+' by Brickwork Ratings. The company's stock closed 5.90 per cent down at Rs 112.40 on the BSE.