Indiabulls Housing gets committee nod to raise up to Rs 50,000 cr
Indiabulls Housing Finance said on Tuesday that a board-appointed committee has approved a proposal to raise capital up to Rs 50,000 crore through bonds.
Pursuant to the Enabling License for Existing Shareholders, valid until 28 July 2022, the Company may raise funds of up to Rs 50,000 crore by issuing non-convertible secured or unsecured bonds (non-contributory debentures or bonds) in one or more tranches for the private sector. Placement base.
“To allow the Company to raise funds through a non-communicable disease issue effective July 28, 2022, the Board of Directors formed a committee at its meeting held on March 22, 2022, authorizing the Company to raise funds through an NCD issue. and/or issuance of bonds, in a single tranche or more, in the form of a private placement up to the current shareholder mandate of Rs 50,000 crore,” Indiabulls Housing Finance said in a regulatory filing.
The company said it will seek shareholder approval for the fundraising plan at its extraordinary general meeting on April 18, 2022.
Shares of the company closed at Rs 154.45 per share on BSE, down 1.72 percent from the previous close.
Also Read – NBFCs seek extension of subsidy under PMAY-CLSS for two years