Press Releases



Indiabulls Housing Finance's Public Issue of NCDs oversubscribed by 2 times

Mumbai, September 16, 2016: Indiabulls Housing Finance Limited (IBHFL), one of the largest housing finance companies of the country today pre-closed its public issue of NCDs, on the second day since opening. Subscribed over 2 times on the base issue of Rs. 3500 crs, with bids on BSE and NSE crossing over Rs. 7,200 crs. The high demand for the bonds was especially highlighted in the opening 30 minutes within which the base issue was subscribed by more than 100%.    

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.