Indiabulls raises Rs. 236.15 billion of debt in last two months

By Sarah Lizee

Olympia, Wash., Nov. 20 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that it has raised Rs. 236.15 billion through various debt instruments in the last two months.

Of the total amount raised, Rs. 174.1 billion is in the form of long-term debt, according to the notice.

The company noted that as an aftermath of IL&FS default, the liquidity issue for the non-banking finance/housing finance sector started on Sept. 21.

Indiabulls said the fund raising is in line with its objectives of maintaining high liquidity and sustainable growth.

The issuer is a Mumbai-based real estate company.

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