Gurgaon-based Indiabulls Housing Finance has raised Rs 1,030 crore on a private placement basis, stated the company in its BSE filing. The finance company’s Non-Convertible Debentures (NCDs) have been subscribed by four large Indian public sector banks.
The company said it allotted 10,300 Secured, Redeemable, NCDs of face value Rs 10 lakh each aggregating to Rs 1,030 crore, on a private placement basis. The coupon rate is 9.10 per cent per annum.
While the allotment date is May 18, 2020, the maturity period of this is May 18, 2023.
The board had authorised the company to issue NCDs in February 2020.