India New Issue-Indiabulls Housing Finance eyes public bond issue

Sammaan Capital

06/09/2023 07:27

MUMBAI, Sept 6 (Reuters) - Indiabulls Housing Finance
plans to raise up to 2 billion rupees  ($24.08 million) through
a public issue of bonds, according to a draft shelf prospectus
filed with the market regulator.
    The issue will have a base size and a greenshoe option of 1
billion rupees each.
    The housing finance company has roped in Nuvama Wealth
Management, Elara Capital and Trust Investment Advisors as lead
managers for the proposed issue. 
    The bonds are rated AA by CRISIL and ICRA. 
    Proceeds from the issue will be used for onward lending,
financing, and for repayment of interest and principal of
existing borrowings, according to the draft prospectus.

    



($1 = 83.0725 Indian rupees)

 (Reporting by Bhakti Tambe; editing by Eileen Soreng)
 ((Bhakti.Tambe@thomsonreuters.com))