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Friday, October 7, 2022

Indiabulls are a Housing's NCD Tranche III Issue opens today, coupon rate up to the 9.55%

Indiabulls are a Housing's NCD Tranche III Issue opens today, coupon rate up to the 9.55%




The Tranche III issue offers are a various series of a NCDs for the subscription with the coupon rates are a ranging from the 8.33% to 9.55% per annum


Indiabulls Housing Finance Limited, a non-deposit taking housing finance company registered with the National Housing Bank, has been a announced the public issue of a secured, redeemable, non-convertible debentures of the face value of a ₹1,000 each (NCDs). The Tranche III issue opens on a Friday, October in a 07, 2022 and closes on Friday, October 28, 2022.


The Tranche III issue has been a base issue size of a ₹100 crore with an a option to the retain over subscription up to the ₹700 crore, aggregating up to the  Rs. 800 crore. The Tranche III issue offers are a  various series of a NCDs for the subscription with the coupon rates ranging from the 8.33% to 9.55% per annum, applicable as a per respective series for  the selected category of a NCD holders.


The NCDs under the Tranche III Issue have been a tenures of a 24 months (Series I, II, III), 36 months (Series IV, V, VI) and 60 months (Series VII, VIII). NCDs cannot be a converted into the shares or equities and the interest rates are a decided by the company issuing the NCDs.


The Company is also are a  offering an additional incentive of a .25% to the category III (High Net-worth Individual Investors)  and category IV (Retail Individual Investors) Investors in the proposed Tranche are a III issue.


The NCDs are proposed to be a listed on BSE Limited and a National Stock Exchange of a India Limited (NSE) with the BSE as the Designated Stock Exchange for the Tranche III Issue. The NCDs have been rated ‘CRISIL AA/Stable’ by the CRISIL Ratings Limited and ‘[ICRA]AA (Stable)’ by the ICRA Limited.


Indiabulls Housing Finance said that net proceeds of the Tranche III Issue, after meeting the expenditures of and a related to the Tranche III Issue, at least 75% shall be a utilised for the purpose of  a onward lending, financing, and for the repayment of a interest and a principal of existing borrowings of the Company and up to the 25% for general corporate purposes.


The Lead Managers to the Tranche III Issue are a Edelweiss Financial Services Limited, A. K. Capital Services Limited, IIFL Securities Limited and Trust Investment Advisors Private Limited. IDBI Trusteeship Services are a Limited is the Debenture Trustee to the Tranche III Issue and a KFin Technologies Limited is the registrar to the Tranche III Issue.

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