The NCDs are rated as “CARE AAA” by CARE Rating and “BWR AAA” by Brickwork (Highest Possible Rating). The issue of secured and unsecured NCDs with interest rates starting from 8.55% opened to strong demand.
Speaking on the success of the issue, Mr. Gagan Banga, Vice Chairman and Managing Director, Indiabulls Housing Finance Limited said, “With the success of this issue, the company has further diversified its funding sources and will help in reducing its cost of funds. The response from this issue testifies the confidence of investors at large in our company”
Over and above this issue the company has since 1st July 2016 privately placed Rs. 7,180 crores of NCDs. Indiabulls Housing Finance is also only the second housing finance company to have raised masala bonds of Rs. 1,330 crs.
Yes Securities (India) Limited, Edelweiss Financial Services Limited, A. K. Capital Services Limited, Axis Bank Limited, IIFL Holdings Limited, INDUSIND Bank Limited, SBI Capital Markets Limited, Trust Investment Advisors Private Limited were the lead managers to the issue.
IDBI Trusteeship Services Limited was the Debenture Trustee, while Karvy Computershare Private Limited was the Registrar to the Issue.