Indiabulls Housing Finance to raise up to ₹1,000 crore via NCD

Indiabulls Housing Finance Ltd (IBHFL) has decided to raise up to ₹1,000 crore via public issue of secured, redeemable, non-convertible debentures of face value of ₹1,000 each.

The base size of the public issue is for an amount up to ₹200 crore with an option to retain over-subscription up to ₹800 crore. The issue is within the shelf limit of ₹2,000 crore.

The minimum subscription amount is ₹10,000 (10 NCDs) across all 10 series of NCDs. Investment thereafter will be in multiples of ₹1,000 (one NCD). The NCDs will be issued for three tenors — 24 months, 36 months and 60 months.

Depending on the tenor and series of NCD, the effective yield per annum ranges from 8.35 per cent to 9.26 per cent, as per IBHFL’s exchange filing.

The NCD issue opens on December 9 and closes on December 20, 2021. The NCDs are proposed to be listed on BSE and NSE.