Indiabulls Housing on February 24 informed the stock exchanges that it is planning to raise up to Rs 900 crore via a public issue of non-convertible debentures (NCD).
The issue will be "secured" and "redeemable", and its base size will be Rs 100 crore with an option to retain oversubscription up to Rs 800 crore, "aggregating up to Rs 900 crore", the regulatory filing stated.
The NCDs are proposed to be listed on National Stock Exchange of India Limited and BSE Limited.
The opening date of the issue is March 3 and the closing date is March 17, Indiabulls Housing noted, adding that the deemed date for allotment is March 23. The tenor of the coupons will be 24 months, 36 months and 60 months.
"The NCDs proposed to be issued under the Tranche V Issue have been rated 'CRISIL AA/Stable'," it said.
In the quarter ending December 2022, Indiabulls Housing had reported a net profit of Rs 229.38 crore, up 20.71 percent from Rs 190.02 crore recorded in the year-ago period. The company's net sales stood at Rs 1,985.15 crore, down 2.23 percent from Rs. 2,030.49 crore in December 2021.
Indiabulls Housing's stock settled at Rs 101.25 apiece at the BSE on February 24, which was 1.27 percent lower than the previous day's close.
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