The issue opened on 7 October 2022 and it will close on 28 October 2022. The base issue size is Rs 100 crore with an option to retain oversubscription up to Rs 700 crore, aggregating up to Rs 800 crore.

The issue offers eight series of NCDs for subscription with effective yield ranging from 9.04% to 9.54% per annum. The NCDs have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI) and 60 months (Series VII, VIII).

The NCDs proposed to be issued under this issue have been rated CRISIL AA/Stable" by CRISIL Ratings and ICRA AA (Stable) by ICRA. The minimum bid quantity is Rs 10,000 (10 NCDs) across all series and in multiples of Rs 1,000 thereafter. The NCDs are proposed to be listed on the BSE and the NSE.

At least 75% of 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. The company intends to deploy upto 25% of the amount for general corporate purposes.

Indiabulls Housing Finance is a non-deposit taking housing finance company ("HFC") registered with the NHB. It focuses primarily on long-term secured mortgage-backed loans. It primarily offers housing loans and loans against property to target client base of salaried and self-employed individuals and micro, small and medium-sized enterprises ("MSMEs") and corporates. It also offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises. As of 31 March 2022, housing loans and non-housing loans constituted 62% and 38%, respectively of the company's loan book.