Indiabulls Housing Finance to raise Rs 625 crore

NEW DELHI: Indiabulls Housing Finance is planning to raise Rs 625 crore through issuance of non-convertible redeemable debentures, the company said today.

"The company proposes to issue 6,250 secured non- convertible redeemable debentures with a face value of Rs 10 lakh each aggregating Rs 625 crore (plus greenshoe option) on a private placement basis," the company said in a BSE filing.

The issue will open on June 30 and close on the same day.

The non-convertible redeemable debentures will have a coupon rate of 9 per cent and are proposed to be listed on NSE and BSE.

Last week, the company said it is planning to raise Rs 300 crore through issuance of non-convertible redeemable debentures.

The scrip was trading 0.19 per cent lower at Rs 657.60 on BSE.