Indiabulls Housing Finance Ltd to issue Secured Non-Convertible Redeemable Debentures

Indiabulls Housing Finance Ltd proposes to issue upto 1,000 Secured Non-Convertible Redeemable Debentures with a face value of Rs. 10 lakh each aggregating to upto Rs.100 Crores (Plus Greenshoe Option, if any), on Private Placement basis, pursuant to special resolution passed by the shareholders of the Company at the 10th Annual General Meeting held on September 7, 2015.

The terms and conditions of the instrument is given below:

The Issue Size will be Rs. 100 Crores (Plus Greenshoe Option, if any) and the mode of issue is Private Placement.

The Issue Opening Date is 2nd September, 2016 and the issue closing date is 2nd September, 2016. The Deemed Date of Allotment will be 2nd September, 2016.

The instrument will be listed at both National Stock Exchange of India Limited (NSE) and BSE Limited.

The Tenor of the debentures will be 2 to 5 Years and the coupon is fixed as 8.55% p.a. (Payable Annually and at Maturity)

The instruments are Secured and the rating of the Instrument is "CARE AAA" by CARE Ratings and "BWR AAA" by Brickwork Rating.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.828.65 as compared to the previous close of Rs. 834.35. The total number of shares traded during the day was 15954 in over 908 trades.

The stock hit an intraday high of Rs. 836.05 and intraday low of 825.3. The net turnover during the day was Rs. 13233470.

Source : Equity Bulls

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