Indiabulls to raise Rs 300 cr through NCDs

Mumbai: Indiabulls Housing Finance on Saturday announced plans to raise Rs 300 crore via the issuance of non-convertible redeemable debentures. "The company proposes to issue 30,000 unsecured non-convertible redeemable debentures (Tier-II) in the nature of subordinated debt with a face value of Rs 1 lakh each aggregating to Rs 300 crore (plus greenshoe option) on a private placement basis," said Indiabulls in a regulatory filing. The non-convertible redeemable debentures will have a 10-year tenure with 9.3 per cent coupon rate per annum and will be proposed to be listed on the NSE and BSE, said the filing. The issue for the non-convertible redeemable debentures will open and close on June 29.