Indiabulls Housing approves allotments for public offering

By Mary-Katherine Stinson

Lexington, Ky., Nov. 9 – Indiabulls Housing Finance Ltd.’s board of directors on Nov. 9 approved the allotment of a third tranche of debentures on a public issue basis, according to a notice.

The company approved the allotment of 10,76,568 of secured, redeemable, non-convertible debentures at par of Rs. 1,000, totaling Rs. 107,65,68,000.

The company previously announced that it would sell Rs. 1 billion of debentures, with an over-allotment option for another Rs. 1 billion. The Rs. 2 billion applies to the third tranche. The entire shelf limit is for Rs. 20 billion.

None of the bonds were allotted to the first category.

There were three other categories, with distribution skewed to the fourth category.

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

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