Indiabulls Housing Finance Ltd raises Rs 200 cr from banks

New Delhi: Indiabulls Housing Finance Ltd has raised Rs 200 crore from state-run banks. The Indiabulls Group company raised the money through issue of securities to “two large Indian public sector banks”. The company did not disclose the name of the banks.

Indiabulls Housing Finance raised the money on private placement basis. It allotted 2,000 secured, redeemable, non-convertible debentures (NCD) of face value Rs 10 lakh each totaling Rs 200 crore.

“These NCDs have been subscribed by two large Indian public sector banks,” the company said in a regulatory filing. 

The NCDs have a maturity of 546 days and they carry coupon of 9 percent per annum payable annually.