Indiabulls Housing Finance

Barclays, CLSA, Deutsche Bank, Elara Capital, Emirates NBD Capital, Nuvama and UBS are the joint book runners for the issue

Mortgage player Indiabulls Housing Finance on Tuesday reported a marginal 3 per cent rise in consolidated net profit to Rs 298 crore in the second quarter ended September 2023. The company had reported a net profit of Rs 289 crore in the July-September quarter of last fiscal. Its total income during the quarter under review rose to Rs 2,242 crore from Rs 2,231 crore in the corresponding quarter a year ago, Indiabulls Housing Finance said in a regulatory filing. However, interest income declined to Rs 1,731 crore compared to Rs 2,126 crore a year ago. The company, in a separate filing, said it has transferred the third tranche of the reserve amount of Rs 313.86 crore to the lender repayment trust. The trustee in turn has created a fixed deposit using the reserve amount with a scheduled commercial bank and such reserve amounts would be utilised for redemption of the Foreign Currency Convertible Bonds (FCCB) in compliance with applicable laws if the put option is exercised by the FCC

Capri Global Holdings Pvt Ltd on Wednesday sold shares of mortgage financier Indiabulls Housing Finance for Rs 43 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Capri Global Holdings offloaded 25 lakh shares, amounting to a 0.53 per cent stake in Indiabulls Housing Finance Ltd. The shares were disposed of at an average price of Rs 171.45 apiece, taking the deal size to Rs 42.86 crore. After the transaction, Capri Global Holdings' stake in Indiabulls Housing Finance has declined to 3.08 per cent from 3.61 per cent. Details of the buyers could not be ascertained. Shares of Indiabulls Housing Finance plunged 6.47 per cent to settle at Rs 171.20 per piece on the NSE.

Stocks to Watch today, August 29, 2023: An investigation of India's Adani group by the market regulator has uncovered violations of rules on disclosures by listed entities

To Rs 35,000 cr via NCDs; to rebrand itself

The Board has approved to raise up to Rs 35,000 crore via non-convertible debentures

Indiabulls Housing Finance on Thursday 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). 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

With the re-classification, the promoter shareholding in the company has been reduced to nil from 9.6 per cent

Impairments on financial instruments double YoY; income from operations almost flat at Rs 2,229.7 cr

Indiabulls Housing Finance on Friday opened the public issue of bonds to raise debt capital of up to Rs 800 crore. The public issue of secured, redeemable, non-convertible debentures of face value of Rs 1,000 each, is the tranche III for the non-banking finance company, which closes on October 28, 2022. In a statement, the company said the base issue size is of Rs 100 crore with option to retain over subscription up to Rs 700 crore. The bonds carry coupon rates ranging from 8.33-9.55 per cent per annum, it said, adding that the tenure is of 24 months and 36 months belonging to various series. The NCDs are proposed to be listed on BSE and NSE. The bonds have been rated CRISIL AA/Stable by CRISIL Ratings and [ICRA]AA (Stable) by ICRA. "Net proceeds of the tranche III issue, after meeting the expenditures of and related to the tranche III Issue, at least 75 per cent shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existin

MPC has increased the repo rate by 140 bps cumulatively since May in an effort to rein in inflation

The revised rates for new borrowers range between 7.80 per cent and 8.30 per cent, depending on credit and loan amount

The strong demand in real estate -- residential, commercial, and logistics -- is giving confidence to the likes of JM Finance, Piramal, LIC Housing, and Indiabulls Housing Finance

Income from operations fell to Rs 2,189 cr in Q4FY22 from Rs 2,372 cr in Q4FY21. Amount set aside for impairment on financial instruments declined to Rs 92 cr from Rs 316 cr

The Moody's affirmation is driven by Indiabulls' strong capital, comfortable liquidity, declining profitability and weak asset quality

'We believe that the lodgment of the complaint against the petitioners and continuity of the proceedings, is an abuse of process of law', the high court said in its judgement

The board has passed an enabling provision allowing the company to raise up to Rs 50,000 crore

Funds can be raised via NCDs on one or more tranches as private placement

On September 28, 2021, upon conversion of FCCBs, it had allotted bonds for an aggregate $165,000,000 (4.50 per cent)

Regulator says it has not found any wrongdoing on company's part with respect to the specific allegations made against it in various PILs and complaints