Indiabulls Housing Finance today said it will raise Rs 400 crore by issuing debentures on a private placement basis.
It will issue 4,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each, the company said in a BSE filing.
“Indiabulls Housing Finance...proposes to issue 4,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 400 crore on private placement basis,” it said.
Shareholders of the company had passed a special resolution at the annual general meeting held in September 2015 to raise the amount.
Indiabulls Housing Finance shares were trading at Rs 645.50 apiece on the BSE, down 0.51 per cent from the previous close.