Indiabulls Housing OKs issuing Rs. 1 billion debentures in tranches

By Wendy Van Sickle

Columbus, Ohio, Dec. 5 – Indiabulls Housing Finance Ltd.’s board of directors approved on Monday a public issuance of up to Rs. 1 billion of secured, redeemable, non-convertible debentures with an over-allotment option for another Rs. 1 billion, according to a notice.

The debentures would be issued in tranches that have tenors of two, three, five, seven and 10 years.

The debentures would 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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