Indiabulls Housing Finance to raise Rs 300 crore via NCDs

Indiabulls Housing Finance said it is planning to raise Rs 300 crore through issuance of non-convertible redeemable debentures.

"The company proposes to issue 30,000 unsecured non-convertible redeemable debentures (Tier-II) in the nature of subordinated debt with a face value of Rs 1 lakh each aggregating to Rs 300 crore (plus greenshoe option) on a private placement basis," the company said in a BSE filing.

The issue will open on June 29, and close on the same day.

The non-convertible redeemable debentures have a 10-year tenure with a 9.30 per cent per annum coupon rate and are proposed to be listed on the NSE and BSE.