Indiabulls Housing Finance is planning to raise up to Rs 1,000 crore through a public issue of secured, redeemable, non-convertible debentures (NCDs).
The coupon rate on the NCDs, each of Rs 1,000 face value, will be in the 8.57-9.80 per cent range, depending on the tenor (24 months, 36 months and 60 months), frequency of interest payments (annual, monthly and cumulative), and the category of investors, according to the housing finance company’s exchange filing.
An investor will have to subscribe to a minimum of 10 NCDs (aggregating Rs 10,000), and in multiples of 1 NCD (Rs 1,000) thereafter.
The base size of the NCD issue is Rs 100 crore, with an option to retain over-susbcription of up to Rs 900 crore. The issue will open on December 1 and close on December 22.
The NCDs are proposed to be listed on the NSE and BSE, with the latter being the designated stock exchange.