Indiabulls Housing Finance is planning to raise USD 165 million by issuing foreign currency convertible bonds (FCCBs). The decision was taken at Securities Issuance Committee at its meeting on September 21, 2021.
The committee approved the price of USD 165 million, (4.5%). Secured Convertible Bonds due 2026 (FCCBs) convertible into equity shares of Rs 2 each in the share capital of the company.It includes the issue price for the FCCBs: 100% of the principal amount of the FCCBs and initial conversion price of Rs 243.05 per fully paid-up equity share of the company.
The company also approved and adopted the final offering circular dated September 21, 2021 and subscription agreement to be executed between the company and the joint lead managers and joint book runners appointed for the purpose of the Issue. It also approved and authorised the creation of security, in connection with the Issue.
Shares of the company gained Rs 12.45, or 5.97%, to settle at Rs 220.95. The total volume of shares traded was 1,958,050 at the BSE (Wednesday).