Indiabulls board approves fundraising plan of up to Rs 50,000 cr

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

The board-constituted committee of mortgage financier Indiabulls Housing Finance on Tuesday approved raising of funds of up to Rs 50,000 crore via non-convertible debentures (NCDs) or bonds in one or more tranches on a private placement basis.

The committee has also given the go-ahead to the company to seek an enabling approval from the shareholders for such a fund raise in their extraordinary general meeting scheduled to be held on April 18, 2022.

In an exchange notification the company said, “… the board constituted committee at its meeting held on March 22, has authorised the company to raise funds through issue of NCDs and/or bonds, in one or more tranches, on private placement basis upto the shareholders existing authorisation of Rs 50,000 crore”.