Indiabulls Housing Finance Ltd’s board has approved raising ₹10,000 crore or equivalent in US Dollars or any other currency through one or more suitable investors.
In a filing with the stock exchanges, Indiabulls Housing Finance Ltd stated that the board has approved the fundraise, create, offer, borrow, issue, and allot debentures, bonds, debt, and/or External Commercial Borrowings (ECB) or any other non-convertible securities through a public offer, private placement, or any combination thereof.
The funds will be raised up to ₹10,000 crore, or equivalent in USD or other currencies, in one or more tranches and/or issuances to eligible domestic or international investors, as per applicable provisions of the Companies Act, 2013, and other regulatory guidelines.
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The board of Indiabulls Housing Finance has allowed the Securities Issuance and Investment Committee to explore and assess various options for raising cash in the most beneficial manner for the company.
