Indiabulls Housing Receives Approval From The Committee to Raise Up to INR 50K Crore Via Bonds

Recently Indiabulls Housing Finance said that a board-appointed committee has authorised a plan to raise up to Rs 50,000 crore through bonds.

According to the present shareholders' enabling authorization, which is valid until July 28, 2022, the business may raise up to Rs 50,000 crore via the private placement of secured or unsecured non-convertible debentures (NCDs or bonds).

"To enable the company to raise funds through the issuance of NCDs on or after July 28, 2022, the board established a committee on March 22, 2022, and authorised the company to raise funds through the issuance of NCDs and/or bonds, in one or more tranches, on a private placement basis, up to the shareholders' existing authorisation of Rs 50,000 crore," Indiabulls Housing Finance said in a regulatory filing.

The business said that it would seek permission from shareholders at the next Extraordinary General Meeting (EGM) set for April 18, 2022. The company's stock finished at Rs 154.45 per share on the BSE, down 1.72 percent from the previous close.