Indiabulls raises 2,318 cr via bonds

Indiabulls Housing Finance has raised Rs 2,318.50 crore by issuing bonds on a private placement basis. This is part of the company's Rs 24,000 crore fund raise plan. Indiabulls Housing Finance had announced to raise Rs 24,000 crore by way of issuance of secure, redeemable, non-convertible debentures on private placement basis in December 2017.

“The company has allotted its 17th tranche of secured, redeemable, non-convertible debentures of face value of Rs 10 lakh each aggregating to Rs 2,318.50 crore,” the company said in a regulatory filing. Stock of the company closed 0.50 per cent higher at Rs 1,191.35 a piece on the BSE today.