Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange (BSE) on Saturday that it intends to raise Rs. 300 crore via private placement of debt instruments.
The non-convertible debentures (NCDs) will have a face value of Rs. 1 lakh each and repayable after 10 years. The debentures will carry an interest of 9.30 percent payable annually and have been rated by CARE Ratings (CARE AA+) and Brickswork Ratings (BWR AAA). The issue will open on June 29 and close on the same day, the company said in a regulatory filing to the BSE.
The NCDs will be listed on the BSE and the NSE.
Indiabulls Housing Finance had reported a rise of 22.6 percent in net profit to Rs. 675 crore for the fourth quarter ended March 31, 2016 on total income of Rs. 2,400 crore.
The share price of Indiabulls Housing Finance closed at Rs. 656.45 on Friday on the BSE, down 4.01 percent from its previous close.