Indiabulls Housing’s Rs 200 crore NCDs public issue oversubscribed four times

NEW DELHI: Indiabulls Housing Finance today said that the base issue size of its public issue of secured redeemable non-convertible debentures (NCDs) and unsecured subordinated redeemable NCDs has been oversubscribed, the company said in a media release.

Base Issue was oversubscribed by 4.04 times with a total collection of Rs 807.83 crore while the retail category oversubscribed by 2.44 times (of the Base Issue Size) with a total collection of Rs 146.22 crore.

Most of the monies have been raised at an effective annual yield of 8.35%.Almost 42% of the total issue size got subscribed for three years & five years tenure. Overall, this Tranche I Issue has seen interest from investors across series and tenures offering annual, monthly, and cumulative interest options.

The NCDs have been rated ‘CRISIL AA/Stable’ by CRISIL Ratings and ‘BWR AA+ Negative’ by Brickworks Ratings India.

Edelweiss Financial Services, IIFL Securities and Trust Investment Advisors are the lead managers to the NCD issue.

The Issue opened on September 6, 2021 and closed on September 20, 2021.

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