India's Indiabulls Housing Finance gains 5% on proposed $165 mln fund raise

Sammaan Capital

22/09/2021 08:38

** Shares of the housing finance co  INBF.NS  rise as much
as 4.9% to 216.85 rupees, their biggest intra-day pct gain since
Sept. 16  
    ** INBF said on Tuesday it will raise $165 mln via foreign
currency convertible bonds
    ** In a separate release, co said its 2 billion rupees
($27.10 million) public issue of non-convertible debentures
(NCD) were oversubscribed 4 times
    ** INBF said issue saw healthy demand in the retail category
of investors with a total collection of 8.08 bln rupees
    ** INBF said NCDs have been rated "CRISIL AA/Stable"
    **  About 10 mln shares change hands vs 30-day avg of 12.3
mln
    ** Co's shares are down 5.3% so far this year as of last
close


($1 = 73.7930 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
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