Indiabulls Housing Finance

Indiabulls Housing Finance on Thursday announced a Rs 900-crore debt sale through a public issue of secured, redeemable, non-convertible debentures. The base size of the issue is only Rs 100 crore with a greenshoe option for an additional Rs 800 crore. The public issue opens on Friday and closes March 17, the company said in a statement. The company is offering coupon rates ranging from 8.88 per cent to 10.15 per cent per annum and post-close, the issue will be listed on BSE and NSE. The NCDs have tenures of 24 months (series I, II & III), 36 months (series IV, V & VI), and 60 months (series VII & VIII). The company is also offering an additional incentive 0.25 per cent per annum to category III and IV investors, who are also primary holders on the deemed date of allotment, the company said. At least 75 per cent of the net proceeds of the issue will be utilised for onward lending, financing, and for repayment of interest and principal of existing borrowings and the balance

With the re-classification, the promoter shareholding in the company has been reduced to nil from 9.6 per cent

Impairments on financial instruments double YoY; income from operations almost flat at Rs 2,229.7 cr

Indiabulls Housing Finance on Friday opened the public issue of bonds to raise debt capital of up to Rs 800 crore. The public issue of secured, redeemable, non-convertible debentures of face value of Rs 1,000 each, is the tranche III for the non-banking finance company, which closes on October 28, 2022. In a statement, the company said the base issue size is of Rs 100 crore with option to retain over subscription up to Rs 700 crore. The bonds carry coupon rates ranging from 8.33-9.55 per cent per annum, it said, adding that the tenure is of 24 months and 36 months belonging to various series. The NCDs are proposed to be listed on BSE and NSE. The bonds have been rated CRISIL AA/Stable by CRISIL Ratings and [ICRA]AA (Stable) by ICRA. "Net proceeds of the tranche III issue, after meeting the expenditures of and related to the tranche III Issue, at least 75 per cent shall be utilised for the purpose of onward lending, financing, and for repayment of interest and principal of existin

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The strong demand in real estate -- residential, commercial, and logistics -- is giving confidence to the likes of JM Finance, Piramal, LIC Housing, and Indiabulls Housing Finance

Income from operations fell to Rs 2,189 cr in Q4FY22 from Rs 2,372 cr in Q4FY21. Amount set aside for impairment on financial instruments declined to Rs 92 cr from Rs 316 cr

The Moody's affirmation is driven by Indiabulls' strong capital, comfortable liquidity, declining profitability and weak asset quality

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The board has passed an enabling provision allowing the company to raise up to Rs 50,000 crore

Funds can be raised via NCDs on one or more tranches as private placement

On September 28, 2021, upon conversion of FCCBs, it had allotted bonds for an aggregate $165,000,000 (4.50 per cent)

Regulator says it has not found any wrongdoing on company's part with respect to the specific allegations made against it in various PILs and complaints

In a statement to the exchanges, Indiabulls Housing Finance said ED had sought certain clarifications regarding the FIR

Sequentially, however, consolidated net profit rose by 5.94% from Rs 286 crore in Q2FY22

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