Indiabulls Housing Finance raises $165 mn by selling convertible bonds

21 Sep 2021 CW Team

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

Real Estate

01 Dec 2025

Serene, Gardencity to Develop Rs 3 Billion Senior Living Project in Bengaluru

Serene Communities, a leading senior living brand, has partnered with Gardencity Realty to develop a premium senior living community in Budigere, one of Bengaluru’s fastest-growing residential micro-markets. The project will span approximately 300,000 sq ft, with a Gross Development Value of about Rs 3 billion, and will add roughly 250 senior-friendly residences to the city’s growing retirement housing segment.The launch forms part of Serene Communities’ national expansion strategy. The company has 11 new projects under development with a planned investment of Rs 25 billion that will add..

Alliance City Developers Marks Major 2025 Milestones in Vile Parle

Alliance City Developers Realtors has announced significant project milestones and expansions in 2025, underscoring what the company terms a transformational year. The developer completed multiple residential projects and launched two premium developments in Vile Parle (East), one of Mumbai’s most sought-after neighbourhoods.During the year, Alliance Legacy in Matunga (East) received its Occupancy Certificate (OC), while Alliance Eternis in Borivali (West) and Alliance Vista in Vile Parle (East) were granted Completion Certificates (CC), marking final project delivery. Alliance Abhimanyu is ..

Moro Hub and PwC Middle East Partner to Accelerate Smart City Solutions

Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA), has announced a strategic collaboration with PwC Middle East to advance Smart City, Integrated Command Centre (ICC), Critical Infrastructure Monitoring and Internet of Things (IoT) initiatives across the region. The partnership brings together Moro Hub’s digital infrastructure and IoT capabilities with PwC’s global expertise in digital trust, smart city strategy and cybersecurity to support the UAE’s vision for intelligent and sustainable cities.“Our collaboration with PwC Middle Ea..