MUMBAI: Indiabulls Housing Finance Ltd mulls to raise up to Rs 1,000 crore, via public issue of bonds which includes Rs 900 crore issue bonds.

The securities issuance committee of the board of directors of the Indiabulls Housing Finance in a meeting held on August 29, 2022, approved the public issue of secured redeemable non-convertible debentures of a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 900 crore, the housing finance said in a regulatory filing on Tuesday.

The second Tranche Issue offers various series of Non-convertible debentures or NCDs for subscription with coupon rates ranging from 8.33 percent to 9.55 percent per year. The Issue will open for subscription today, September 5 and closes on September 22.

The tenures of the NCDs under the Tranche II Issue are 24 months for Series I, II, and III, 36 months for Series IV, V, and VI, and 60 months for Series V. (Series VII, VIII).

For holders of NCDs in Categories-I (Institutional Investors) and II (Non-Institutional Investors), the effective yield (per annum) ranges from 8.64 to 9.05 percent, and for holders in Categories III (High Net-worth Individual Investors) and IV (Retail Individual Investors), it ranges from 9.04 to 9.54 percent.

The issue's lead managers are Edelweiss Financial Services Limited, A.K. Capital Services Limited, IIFL Securities Limited, and Trust Investment Advisors Private Limited.

The Debenture Trustee for the Tranche II Issue is IDBI Trusteeship Services Limited.  It is planned that the NCDs be listed on the National Stock Exchange of India and BSE Limited.

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