Indiabulls Housing Finance to raise Rs 400 cr via pvt placement

New Delhi: Indiabulls Housing Finance today said it will raise Rs 400 crore by issuing debentures on a private placement basis.

It will issue 4,000 secured non-convertible redeemable debentures with face value of Rs 10 lakh each, it said in a BSE filing.

"Indiabulls Housing Finance...Proposes to issue 4,000 Secured Non-Convertible Redeemable Debentures with a face value of Rs 10 lakh each aggregating to Rs 400 crore, on private placement basis", it said.

The shareholders of the company had passed special resolution at the annual general meeting held in September 2015 to raise such sum.

Indiabulls Housing Finance scrips traded at Rs 645.50 apiece on BSE, down 0.51 per cent from previous close.