Indiabulls Housing Finance raises 800cr through NCD

Indiabulls Housing Finance has informed BSE, that it has raised Rs 800 crores   by issuing non-convertible debentures (NCDs) on a private placement basis. “The company has allotted secured, redeemable, non-convertible debentures of face value of Rs 10 lakh each aggregating to Rs 800 crore,”. The issue closed on August 16 and the bonds will carry coupon rate of 8.80 per cent (payable annually and at maturity).

On the other hand, shares of the company on Aug 17 opened at Rs 818, 4 rupees higher and closed at Rs 802.30, down by 1.49 per cent. In the last 5 days, shares have surged by 2 per cent. 52-week High/Low of the company stands at Rs 821/551.

Company has posted strong numbers in Q1FY17. In Q1, total income from operation of the company stands at Rs 2371.98, which has increased by 30 per cent. EBITDA stands at Rs 2065.42 crores, which has increased by 26 per cent as compared to Q1FY16. Net profits of the company have increased by 23 per cent and stand at Rs 630.06 crores.

Indiabulls Housing Finance is an Indian based company which carries on the business of housing finance providing home loans and loans against property. The company also offers loans against residential, commercial, and rental property. The company has its registered office in the national capital territory of Delhi.