Indiabulls Housing Finance board approves allotment of NCDs worth over Rs552cr; Stock gains 1%

7 Jan 2022 , 09:52 AM

Securities Issuance Committee of the Board of Directors of Indiabulls Housing Finance Limited has approved allotment of 5,529,601 NCDs of the face value of Rs1,000 each, aggregating to Rs5,529,601,000 on a public issue basis. The Tranche I Issue opened on December 9, 2021, and closed on December 31, 2021.

The company had earlier intimated with respect to allotment of secured, redeemable, non-convertible debentures of the face value of Rs1,000 each (NCDs), for an amount up to Rs200cr (Base Issue Size) with an option to retain oversubscription up to Rs800cr, aggregating up to Rs1,000cr (Tranche I Issue Limit) (Tranche I Issue), which is within the shelf limit of Rs2,000cr.

At around 9.55 am, Indiabulls Housing Finance Ltd was trading at Rs24.00 per share up Rs2.20 or 0.99% from its previous closing of Rs221.80 per piece on the BSE.