Indiabulls Housing to buy back NCDs, masala bonds worth Rs 2,700 crore

Indiabulls Housing Finance on Wednesday said it is buying back NCDs maturing in September worth Rs 1,375 crore and rupee denominated bonds maturing in October worth Rs 1,330 crore.

The NBFC said it is going for early redemption of non-convertible debentures (NCDs) and masala bonds (rupee denominated bonds) on the back of strong cash position of the company.

The NCDs maturing in September include Rs 660 crore of public issues.


The approval process with Reserve Bank of India has already been initiated, the company said in a press release.

Indiabulls Housing, meanwhile, also said it has bought back Rs 2,173 crore NCDs maturing in July and August. The buyback was announced on June 20, 2019.

Shares of the company closed 7.67 per cent up at Rs 690.95 on BSE.

Earlier, shares of the company hit their 52-week high of Rs 1396.85 on August 6, 2018 and 52-week low of Rs 500.20 June 19, 2019.