Indiabulls Housing raised Rs 7,000 cr since July 1 via non-convertible debentures

Indiabulls Housing Finance on Thursday said it has raised over Rs 7,000 crore since July 1 through issuance of non-convertible debentures (NCDs).

"The company has allotted secured, redeemable, non-convertible debentures, for an amount aggregating to Rs 7,030 crore on a private placement basis, from July 1, 2016 till date," Indiabulls Housing Finance said in a regulatory filing.

Last week, Indiabulls Housing Finance said it proposes to raise over Rs 1,600 crore from non-convertible debentures (NCDs) to fund business expansion.

The company proposes to issue up to 16,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to up to Rs 1,600 crore plus green-shoe option on private placement basis.

Shares of Indiabulls Housing Finance were trading 0.84 per cent higher Rs 814.65 on BSE in the morning trade.