+
Indiabulls Housing Finance raises $165 mn by selling convertible bonds
Real Estate

Indiabulls Housing Finance raises $165 mn by selling convertible bonds

Indiabulls Housing Finance raised $165 million from overseas investors by selling five-year convertible bonds.

The proceeds will most likely be used for further lending when the home financier returns home. The debt papers most likely offered a 4.5% interest rate.

The bonds are expected to be listed on the Singapore Stock Exchange as high-yield securities with a credit rating below investment grade.

On 21st September 2021, a meeting of the Securities Issuance Committee of the Company's board of directors will be held to consider and approve, among other things, the issue price and other terms of the FCCBs, on Thursday the company said in a separate exchange filing.

By the end of this fiscal year, Indiabulls Housing Finance aims to disburse Rs 2,000 crore in home loans per month. It currently disburses approximately Rs 800 crore per month.

Co-lending partnerships have also been a priority for the company. Punjab & Sind Bank (PSB), a state-owned bank, recently announced a strategic co-lending alliance for MSME and priority sector home loans with Indiabulls Commercial Credit and Indiabulls Housing Finance (IHFL).

Housing Development Corporation of India (HDFC Ltd) and Indiabulls Housing had formed a similar alliance at the start of the fiscal year.

Earlier this month, the housing finance company began selling local bonds in a public offering. It is still open for subscription, with the borrower currently receiving about Rs 591 crore.

During the April-June quarter, Indiabulls Housing Finance's consolidated net profit increased by 3.2% to Rs 282 crore.

Image Source


Also read: Yes Bank, Indiabulls Housing enter co-lending pact to offer home loans

Indiabulls Housing Finance raised $165 million from overseas investors by selling five-year convertible bonds. The proceeds will most likely be used for further lending when the home financier returns home. The debt papers most likely offered a 4.5% interest rate. The bonds are expected to be listed on the Singapore Stock Exchange as high-yield securities with a credit rating below investment grade. On 21st September 2021, a meeting of the Securities Issuance Committee of the Company's board of directors will be held to consider and approve, among other things, the issue price and other terms of the FCCBs, on Thursday the company said in a separate exchange filing. By the end of this fiscal year, Indiabulls Housing Finance aims to disburse Rs 2,000 crore in home loans per month. It currently disburses approximately Rs 800 crore per month. Co-lending partnerships have also been a priority for the company. Punjab & Sind Bank (PSB), a state-owned bank, recently announced a strategic co-lending alliance for MSME and priority sector home loans with Indiabulls Commercial Credit and Indiabulls Housing Finance (IHFL). Housing Development Corporation of India (HDFC Ltd) and Indiabulls Housing had formed a similar alliance at the start of the fiscal year. Earlier this month, the housing finance company began selling local bonds in a public offering. It is still open for subscription, with the borrower currently receiving about Rs 591 crore. During the April-June quarter, Indiabulls Housing Finance's consolidated net profit increased by 3.2% to Rs 282 crore. Image SourceAlso read: Yes Bank, Indiabulls Housing enter co-lending pact to offer home loans

Related Stories

Gold Stories

Next Story
Infrastructure Urban

India’s Global CE Connect

India’s construction equipment industry is entering a phase where scale is increasingly being matched by productivity, technology, localisation and lifecycle economics. Against this backdrop, bauma ConExpo India 2026, scheduled for September 15-18 at the India Expo Centre, Greater Noida, will bring the global and Indian construction machinery ecosystem together.The eighth edition is expected to be the largest yet, with the exhibition sold out across around 1.45 million sq ft. More than 1,100 exhibitors from over 100 countries are expected to participate, with visitor numbers projected to exc..

Next Story
Real Estate

Orris, Godrej Properties Settle Dispute Over Gurugram Project

Orris Infrastructure and Godrej Properties Limited have reached an amicable settlement over matters related to the jointly developed Godrej Air project in Gurugram, bringing an end to the dispute between the two companies.The Bombay High Court, while hearing a petition filed by Orris Infrastructure, ordered the immediate and unconditional release of Orris Managing Director Amit Gupta on August 25, 2026, after being informed about the settlement agreement between the parties.A single-judge bench led by Justice Milind N. Jadhav noted that in view of the settlement agreement signed by both compan..

Next Story
Infrastructure Urban

Panasonic Launches Second Cycle of Startup Co-Creation Programme

Panasonic Life Solutions India (PLSIND), through its IGNITION Open Innovation platform, has announced the second cycle of Co.lab Studio, a startup collaboration initiative focused on developing scalable digital services and solutions.The new cycle will focus on Safety & Security and Daily Living solutions for communities by leveraging Panasonic’s AI and IoT-enabled connected living platform, MirAIe. The programme aims to help startups move from innovation concepts to pilot deployments, platform integrations and commercialisation-ready solutions.The first cycle of Co.lab Studio received 1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code