Indiabulls Housing mulls raising up to Rs 1,000 crore through bonds

Indiabulls Housing Finance will raise up to Rs 1,000 crore by floating bonds in a public issue scheduled to open on September 5.

The securities issuance committee of the board of directors of the company, in a meeting held on August 29, 2022, approved the public issue of secured redeemable non-convertible debentures of a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 900 crore, the company said in a regulatory filing on Tuesday.

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The fund raise plan is within the shelf limit of Rs 1,400 crore. The issue is proposed to be opened on September 5, 2022. It will be closed on September 22. The housing financier said the deemed date of allotment of bonds is fixed at September 28. The tenor of the bonds is of 24 months, 36 months and 60 months, and will offer interest in the range of 8.33-9.54 per cent.