Indiabulls Housing approves allotment of Rs. 1.13 billion debentures

Chicago, Sept. 26 – Indiabulls Housing Finance Ltd.’s board of directors approved the allotment of a second tranche of debentures on a public issue basis, according to a notice.

The company is issuing Rs. 1,131,783,000 of bonds at par of Rs. 1,000.

The company previously announced that it would sell Rs. 1 billion of the debentures, with an over-allotment option for another Rs. 1 billion.

As previously reported, investors had a choice between two-year, three-year, five-year, seven-year and 10-year debentures.

Two-year investors will receive coupons annually, monthly or cumulatively at redemption. The effective yield is between 9.24% and 9.25%.

Three-year investors will be paid interest annually, monthly or at maturity, with yields between 9.39% and 9.4%.

Five-year, seven-year and 10-year investors will be paid annually or monthly, with yields of 9.64%, 9.99% and 10.24%, respectively.

None of the debentures are callable.

The opening date for the offering was Sept. 6, and the offering closed on Sept. 20.

The debentures will be listed on the National Stock Exchange of India Ltd. and BSE Ltd.

Indiabulls is a Gurugram, India-based real estate company.

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