Latest News | Indiabulls Housing Finance Raises Rs 808 Cr Via NCDs

Mumbai, Sep 21 (PTI) Indiabulls Housing Finance on Tuesday said it has raised Rs 807.83 crore through issuance of non-convertible debentures (NCDs).

This was the tranche-1 NCD issue of the housing finance company with a base issue size of Rs 200 crore and a greenshoe option of up to Rs 800 crore.

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Retail category was oversubscribed by 2.44 times (of the base issue size) with a total collection of Rs 146.22 crore, the lender said in a release.

The issue opened on September 6, 2021 and closed on September 20, 2021.

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It offered various options for subscription with coupon rates ranging from 8.05 per cent to 9.75 per cent per annum.

There were 10 series of NCDs carrying fixed coupon and having tenures ranging 24 months, 36 months, 60 months and 87 months with annual, monthly and cumulative options.

Almost 42 per cent of the total issue size got subscribed for the three-year and five-year tenures, the release said.

Most of the monies have been raised at an effective annual yield of 8.35 per cent, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)