The rating committee of Brickwork Ratings has assigned short term rating at ''BWR A1+''. The long term rating has been reaffirmed at ''BWR AA+'', the company said in the regulatory filing
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The non-banking finance company (NBFC) has raised Rs 682.87 crore through the QIP and Rs 522 crore from the partial stake sale
The company invested Rs 663 crore for a 40 per cent stake in OakNorth Bank in November 2015
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Indiabulls Housing Finance launched its QIP (qualified institutional placement) and set the floor price at Rs 206.70 per equity share for the issue
Firms signed a similar deal 3 months ago
For the quarter under review, Indiabulls Housing Finance reported a 65.9 per cent fall in its consolidated net profit at Rs 272.84 crore
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The announcement came after Sameer Gehlaut stepped down as executive chairman of Indiabulls Housing Finance with immediate effect.
Executive chairman Sameer Gehlaut will be CEO at Indiabulls Ventures
Gehlaut has taken up the role of Non-Executive, Non-Independent Director of the company
Gehlaut may step down as chairman, cease being majority stakeholder
The lender made extra provisions of Rs 700 crore on account of Covid-19 equivalent to 1 per cent of the loan book.
Nifty Bank, Nifty Private Bank and Nifty PSU Bank indices were down 5 per cent each as compared to 2.4 per cent decline in the Nifty 50 index.
Indiabulls Housing Finance's stock is witnessing a reversal pattern on daily charts
The move comes after the Sebi, Association of Mutual Funds (Amfi), and IDBI trustee moved a Division Bench of the court, challenging the interim order granting protection to Indiabulls.
According to court documents, the matter was mentioned on Monday. The plea will be clubbed with the petition filed by Axis Trustee, which represents the majority of the bondholders.
On the BSE, the stock plunged 16.06 per cent to close at Rs 213.55.
The investments in AT-1 bonds of Yes Bank were made in 2017, as part of its treasury management of over Rs 20,000 crore of cash and when the bank was worth over USD 10 billion in value, it said