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Indiabulls Housing Finance set to raise a whooping Rs 1,091 crore

On Thursday, Indiabulls Housing Finance confirmed raising of USD 150 million through issue of foreign currency convertible bonds.

Moreover, the securities issuance committee gave nod to allotment of secured Foreign Currency Convertible Bonds of USD 150 million.

This is however convertible into equity share of Rs 2 according to the company.

On March 4, 2026, the FCCBs will mature which consists of a coupon rate of 4.5 per cent.

Further, an estimate of 4,49,91,756 equity shares of the company are set to be in the trade-off with the FCCBs.

Also, this is an Indian Financial Institution’s first FCCB in the last 10 years as per reports.

Previously, the housing finance company raised Rs 2,671 crore via a qualified institutional placement in September 2020.

This also includes a partial stake of its investment in the London based OakNorth Bank.

Indiabulls Housing Finance reported a strong capital adequacy constituting 30.5 per cent.

Besides this, the company recorded a Tier 1 ratio of 23.7 per cent, well above the regulatory requirement.

It aims to realise better yields on its retail loans along with diversification of its loan book and customer base.

The goal is to surge the retail customer base 1.5 times by March 2023 and 2 times by March 2025.

Meanwhile, the company’s disbursement target is at Rs 1,500 crore retail loans a month by September 2021.

It intends to disburse Rs 2,000 crore a month by March 2022.

On BSE, shares of IBH closed at Rs 243.40, falling by 1.76 per cent compared to the previous close.


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