Indiabulls Housing Finance today said it plans to raise a total Rs 7,700 crore by issuing non- convertible debentures (NCDs) on a private placement basis. Earlier in the day, the company informed about raising Rs 700 crore by issuing NCDs, with a green shoe option, also on a private placement basis. Meanwhile, additional Rs 7,000-crore money raise plan was approved by the Board of Directors at a meeting held on Friday.
The Board has granted permission for public issue of "secured redeemable non-convertible debentures and unsecured redeemable non-convertible debentures having face value of Rs 1,000 each for an amount of Rs 35,000 million with an option to retain over-subscription up to Rs 35,000 million for issuance of additional NCDs aggregating up to Rs 70,000 million”, the company said in a BSE filing.