Indiabulls Housing Fin raises Rs 485 cr via NCDs

Indiabulls Housing Finance has raised Rs 485 crore through issue of non-convertible debentures on private placement basis.

The company had in November last year announced its plan to raise up to Rs 6,000 crore through issue of secured, redeemable and non-convertible debentures (NCDs) on a private placement basis.

The company said that it has today alloted its 12th and 13th tranche of NCDs of face value Rs 10 lakh each aggregating to Rs 485 crore.

A sum of Rs 350 crore has been raised at a coupon rate of 8.57 per cent per annum and a maturity of five years, while another Rs 135 crore has been raised at 8.10 per cent with maturity of one year.