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Indiabulls Housing to sell tranche III secured debentures
By Mary-Katherine Stinson
Lexington, Ky., Oct. 3 – Indiabulls Housing Finance Ltd. will be opening a sale of tranche III secured, redeemable, non-convertible debentures (Crisil: AA) on Friday, according to a notice.
The closing date is Oct. 28. Allotments will take place on Nov. 3.
The debentures, with tenors of 24 months, 36 months and 60 months, will be sold at par.
The minimum application size is Rs. 10,000 for Rs. 1,000 per debenture.
The debentures will be listed on the National Stock Exchange of India Ltd. and BSE Ltd.
The company plans to offer Rs 1 billion, but there is an over-allotment option for another RS. 8 billion, within the shelf limit.
There are eight series to choose from, with coupons ranging from 8.33% to 9.3%. The tenors and frequency of the interest payments vary.
Indiabulls is a Gurugram, India-based real estate company.
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