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    Indiabulls Housing Finance opens public issue of bonds to raise up to Rs 800 cr

    Synopsis

    "Net proceeds of the tranche III issue, after meeting the expenditures of and related to the tranche III Issue, at least 75 per cent shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the company and up to 25 per cent for general corporate purposes," the company said.

    Indiabulls Housing Finance opens public issue of bonds to raise up to Rs 800 crAgencies
    Indiabulls Housing Finance on Friday opened the public issue of bonds to raise debt capital of up to Rs 800 crore. The public issue of secured, redeemable, non-convertible debentures of face value of Rs 1,000 each, is the tranche III for the non-banking finance company, which closes on October 28, 2022.

    In a statement, the company said the base issue size is of Rs 100 crore with option to retain over subscription up to Rs 700 crore.

    The bonds carry coupon rates ranging from 8.33-9.55 per cent per annum, it said, adding that the tenure is of 24 months and 36 months belonging to various series.

    The NCDs are proposed to be listed on BSE and NSE.

    The bonds have been rated CRISIL AA/Stable by CRISIL Ratings and [ICRA]AA (Stable) by ICRA.

    "Net proceeds of the tranche III issue, after meeting the expenditures of and related to the tranche III Issue, at least 75 per cent shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the company and up to 25 per cent for general corporate purposes," the company said.

    The company's consolidated cash and cash equivalents stood at Rs 4,614.55 crore at end of June 30, 2022. Borrowings (other than debt securities) were worth Rs 31,955.59 crore.

    Stock of Indiabulls Housing Finance was trading at Rs 134.90 apiece on BSE, up by 2.24 per cent from previous close.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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