Indiabulls Real Estate raises Rs 30 cr via NCDs

Indiabulls Real Estate today said it has raised Rs 30 crore through issue of non-convertible debentures (NCDs) on private placement basis.
In June, the Mumbai-based company had announced that it proposes to raise up to Rs 200 crore through issue of NCDs on private placement basis.
In a BSE filing, Indiabulls Real Estate informed that the "company has allotted NCDs aggregating Rs 30 crore".
The coupon rate for the NCDs is 10 per cent, it added.
In this round of issuance of NCDs, Indiabulls has raised so far about Rs 180 crore.
Earlier this year, the company had raised over Rs 400 crore through this route.

Indiabulls Real Estate is developing 11 projects with a total saleable area of 30.51 million sq ft. It has presence in key metros of Mumbai, NCR and Chennai. It has also entered London property market.