Indiabulls Housing Finance to buy back bonds worth up to USD 50 mn

Indiabulls Housing Finance said on Friday it will buy back bonds worth up to USD 50 million (around Rs 348 crore), which is a part of its USD 1.5 billion bond program. "The company will be doing a buyback of up to USD 50 million of the USD 350 million 6.375 percent notes issued by the company," it said in a regulatory filing.

The buyback is part of the company's USD 1.5 billion (around Rs 10,398 crore) secured euro medium-term note program, it said. The buyback will be done upon receipt of necessary regulatory approval, it added.

The stock of Indiabulls Housing was trading 1.02 percent down at Rs 516.35 on the BSE.