India’s Indiabulls greenshoe lifts 9.2% debentures to Rs. 3.25 billion

By Tali Rackner

Norfolk, Va., March 30 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that underwriters for its 9.2% one-year secured redeemable debentures partially exercised their over-allotment option, adding an additional Rs. 500 million of debentures.

The company priced Rs. 2.75 billion of the debentures on March 23.

As previously reported, the 3,250 debentures have a face value of Rs. 1 million each and will be issued in a private placement under a special resolution passed by shareholders held Sept. 7, 2015.

Indiabulls is a Mumbai-based real estate company.

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