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Indiabulls has committee approval for public issue of debentures
Chicago, Feb. 28 – Indiabulls Housing Finance Ltd. has committee approval from its board of directors for the issuance of Rs. 1 billion secured redeemable non-convertible debentures (Crisil: AA/ICRA: AA), according to a notice.
There is an oversubscription option for an extra Rs. 1 billion of debentures, within the Rs. 2 billion shelf limit.
The subscription period for tranche V opens on March 5 and closes on March 19.
The debentures will be listed on the BSE and NSE.
Tenors will be split into 24, 36, 60, 84 and 120 months.
Coupons at the low end will be 8.88% and at the high end will be 10¾%.
Indiabulls is a Gurugram, India-based real estate company.
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