The non-banking financial company said it is planning to raise up to Rs 1000 crore through tranche II issue of NCDs of various maturity. The NCDs issue opened on 5 September 2022 and it will close on 22 September 2022.

The bonds are available in eight series with tenors ranging from 24 months, 36 months and 60 months. The frequency of interest payment is monthly, annual and cumulative (at maturity) basis.

Coupon for NCDs ranges from 8.33% to 9.05% per annum while effective yield (% per annum) ranges from 8.64% to 9.05%.

The NCDs proposed to be issued under this issue have been rated "CRISIL AA/Stable" by CRISIL and "[ICRA]AA (Stable)" by ICRA.

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.

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 rose 1.8% to Rs 286.64 crore on 10.7% decline in totla income to Rs 2077.72 crore in Q1 June 2022 over Q1 June 2021.

Shares of Indiabulls Housing Finance rose 0.07% at Rs 134.95 on the BSE.