Indiabulls board OKs Rs. 100 billion, $1 billion-equivalent of debt

By Sarah Lizee

Olympia, Wash., Nov. 6 – Indiabulls Housing Finance Ltd. informed the Bombay Stock Exchange that its board of directors met on Wednesday and approved an issue of up to Rs. 100 billion redeemable nonconvertible debentures through public or private placement.

The board also approved the rupee equivalent of $1 billion of nonconvertible debentures along with warrants through qualified institutional placement.

Indiabulls is a Mumbai-based real estate company.

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