Latest News | Indiabulls Housing's Rs 3,693 Cr Rights Issue to Open on Feb 7

Mumbai, Feb 2 (PTI) Indiabulls Housing Finance on Friday said its Rs 3,693 crore rights issue will be open from February 7-13.

The issue consists of 24,62,26,515 partly paid-up equity shares for an amount aggregating to Rs 3,693.39 crore.

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The issue price is fixed at Rs 150 per share, having a face value of Rs 2, meaning the issue comes at a premium of Rs 148 per share, the company said in a statement.

Of the total proceeds from the issue, Rs 273.4 crore will used to augment the capital base and Rs 83.99 crore will be utilised for general corporate purposes.

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A participating shareholder will get one equity share for every two shares she/he owns as of February 1, 2024 (the record date), the statement said, adding that the last date for credit of rights entitlements is February 6 and the last date for renunciation rights is February 8, which means the rights entitlements can be bought and sold on February 7 and 8.

Indiabulls Housing pre-dominantly offers housing loans and loans against property to salaried and self-employed individuals, micro, small, and medium-sized enterprises, and corporates.

As of September 2023, its loan book stood at Rs 5,434 crore and is among the top five housing finance companies in terms of assets under management.

For the six months till September 2023, its revenue stood at Rs 412.76 crore and net profit at Rs 59.24 crore.

(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)