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The non-banking financial company said it is planning to raise up to Rs 1000 crore through issuance of NCDs of various maturity. The NCDs issue opened on 30 March 2022, and it will close on 22 April 2022.
The company will issue NCDs aggregating to Rs 100 crore, with a green-shoe option to retain oversubscription up to Rs 900 crore. The bonds are available in tenors of 24 months (Series 1, 2, 3), 36 months (Series 4, 5, 6) and 60 months (Series 7, 8).
The frequency of interest payment for 24 months (Series 1), 36 months (Series 4) and 60 months (Series 7) is available on a yearly basis. The frequency of interest payment for 24 months (Series 2) and 36 months (Series 5) is available on at maturity basis, while for other tenors it is available on at monthly basis.
The bonds offer the highest effective yield of 9.26% per annum for the tenor of 60 months (Series 8) for NCD holders in category III & IV.
The NCDs proposed to be issued under this Issue have been rated CRISIL AA/Stable" by CRISIL Ratings and BWR AA+/Stable by Brickwork Ratings with such ratings are considered to have a stable outlook.
The funds raised will be used for the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the company, and general corporate purposes.
The NCDs are proposed to be listed on the BSE and the NSE. The bonds would be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 across all categories.
Indiabulls Housing Finance is a housing finance company, regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.
On a consolidated basis, Indiabulls Housing Finance's net profit declined 8% to Rs 302.9 crore on 9.4% slide in total income to Rs 2,277.8 crore in Q3 FY22 over Q3 FY21.
Shares of Indiabulls Housing Finance ended almost flat at Rs 160.15 on the BSE.
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