Indiabulls Housing Finance gained 0.97% to Rs 675.70 at 12:00 IST on BSE after the company proposed to issue 500 secured non-convertible redeemable debentures aggregating to Rs 50 crore plus greenshoe option on private placement basis.
The announcement was made after market hours yesterday, 5 May 2016.Meanwhile, the S&P BSE Sensex was down 114.23 points or 0.52% at 25,134.85.
On BSE, so far 13,342 shares were traded in the counter as against average daily volume of 1.76 lakh shares in the past one quarter. The stock hit a high of Rs 676.50 and a low of Rs 668.95 so far during the day. The stock had hit a record high of Rs 820 on 10 August 2015. The stock had hit a 52-week low of Rs 518 on 7 May 2015. The stock had outperformed the market over the past one month till 5 May 2016, gaining 9.11% compared with the Sensex's 1.52% gains. The scrip had, however, underperformed the market in past one quarter, dropping 1.99% as against Sensex's 2.62% gains.
The large-cap company has equity capital of Rs 84.27 crore. Face value per share is Rs 2.
Indiabulls Housing Finance proposed to issue 500 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 50 crore plus greenshoe option on private placement basis. The issue will open and close and also will be alloted on the same day on 10 May 2016. The issue with option I has tenor of 5 years and with option II has 10 years tenor. The coupon rate for issue with both the options is 9% per annum.
Indiabulls Housing Finance's consolidated net profit rose 22.6% to Rs 675.50 crore on 25% growth in total income to Rs 2647.19 crore in Q4 March 2016 over Q4 March 2015.
Indiabulls Housing Finance is a housing finance company. The company also provides other loans, such as loan against residential properties for home improvement and to small businesses, commercial vehicle loans, and corporate loans for housing projects.
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