Indiabulls Housing's Rs 900 crore NCD issue opens today
Indiabulls Housing Finance has announced a Rs 900-crore debt sale through a public issue of secured, redeemable, non-convertible debentures.
Indiabulls Housing Finance has announced a Rs 900-crore debt sale through a public issue of secured, redeemable, non-convertible debentures. The base size of the issue is only Rs 100 crore with a greenshoe option for an additional Rs 800 crore. The public issue opens on Friday and closes March 17, the company said in a statement.
The company is offering coupon rates ranging from 8.88 per cent to 10.15 per cent per annum and post-close, the issue will be listed on BSE and NSE.
The NCDs have tenures of 24 months (series I, II & III), 36 months (series IV, V & VI), and 60 months (series VII & VIII).
Click Here For Latest Updates On Stock Market | Zee Business Live
The company is also offering an additional incentive 0.25 per cent per annum to category III and IV investors, who are also primary holders on the deemed date of allotment, the company said.
At least 75 per cent of the net proceeds of the issue will be utilised for onward lending, financing, and for repayment of interest and principal of existing borrowings and the balance will be used for general corporate purposes.
As of December 2022, the consolidated cash and cash equivalents of the company stood at Rs 3,716.81 crore and the borrowings (other than debt securities) at Rs 28,433.74 crore and had a loan book of Rs 53,922.14 crore.
Also read- What is Social Stock Exchange? Know how it will function and its objective
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Tata Motors, Muthoot Finance and 3 more: Axis Direct recommends buying these stocks for 2 weeks; check targets, stop losses
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
09:25 AM IST