India’s Indiabulls Housing board OKs up to Rs. 270 billion of debt

By Tali Rackner

Minneapolis, April 24 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that its board of directors met on Monday and authorized it to issue up to Rs. 270 billion of debentures.

The company may issue up to Rs. 250 billion of secured nonconvertible debentures and up to Rs. 20 billion of unsecured redeemable nonconvertible subordinated debt.

The debentures will be issued in one or more tranches from time to time via private placement.

Indiabulls is a Mumbai-based real estate company.

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