Indiabulls Housing Finance Ltd opens FCCB issue

Subsequent to the approval accorded by the board of directors of Indiabulls Housing Finance Limited (the "Board"), at its meeting held on June 29, 2021 and the special resolution passed by the shareholders of the Company on July 29, 2021, the Securities Issuance Committee ("Committee") has, at its meeting held today i.e. September 16, 2021, approved the terms of issue of foreign currency convertible bonds ("FCCBs") aggregating up to USD 200 million.

The board has approved the floor price for the Issue, approved and adopted the preliminary offering circular dated September 16, 2021, in connection with the Issue and authorised the opening of the Issue today, i.e. September 16, 2021.

The 'Relevant Date' for the purpose of the Issue, in terms of Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993, as amended ("FCCBs Guidelines") is September 16, 2021 and accordingly the floor price in respect of the aforesaid Issue, determined based on FCCBs Guidelines is INR 231.48 per FCCB.

The FCCBs are not, and are not expected to be, rated by any rating agency.

Shares of INDIABULLS HOUSING FINANCE LIMITED was last trading in BSE at Rs. 241.9 as compared to the previous close of Rs. 235.65. The total number of shares traded during the day was 1640917 in over 9363 trades.

The stock hit an intraday high of Rs. 249.55 and intraday low of 235.2. The net turnover during the day was Rs. 398374310.

Source : Equity Bulls

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