Indiabulls Housing Finance approves floor price at Rs231.48 per FCCB; Stock under pressure

The issue price of FCCBs aggregating up to USD 200 million will be considered and approved on September 21.

Sep 17, 2021 09:09 IST India Infoline News Service

Indiabulls Housing Finance
Indiabulls Housing Finance Limited board on Thursday approved the floor price for the issue of foreign currency convertible bonds (FCCBs) at Rs231.48 per FCCB and the opening of the issue on September 16. The company had proposed the issue of FCCBs aggregating up to USD 200 million.

“A meeting of the Securities Issuance Committee of the board of the directors of the Company is scheduled to be held on September 21, 2021, to consider and approve, amongst other things, the issue price and other terms of the FCCBs,” the company said in a separate filing on Thursday.

The company stock was under pressure during early trade on Friday and at around 9.56 AM, Indiabulls Housing Finance Ltd was trading at Rs238.55 per piece down by Rs3.35 or 1.38% from its previous closing of Rs241.90 per piece on the BSE.

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