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Indiabulls Housing Finance NCD Offering 9.25% Subscription Extended

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The NCDs or non-convertible while for Corporate are a way to raise funds, for investors it is a fixed income source that can pay the coupon rate depending on the mode of payment opted for i.e. these instruments pay either annually or on a cumulative basis or as many mode decided by the company issuing the security.

 
Indiabulls Housing Finance NCD Offering 9.25% Subscription Extended

Likewise, Indiabulls Housing Finance has extended the date for its NCD tranche issue to December 31, 2021. The face value of the bond is Rs. 1000 while the base issue size of the NCD is Rs. 200 crore with an option to retain oversubscription up to Rs. 800 crore, aggregating to Rs. 1000 crore,

The revised extended date for subscription now closes on December 31, 2021.

These are secured NCDs against which there is available a security cover of 1.25 times on the principal and interest thereon. Tenure of the investment for an investor can be 24 months, 36 months or 60 months.

The coupon rate is 9.25% with an additional incentive of 0.25%.

Read more about: ncd bonds
Story first published: Thursday, December 23, 2021, 18:48 [IST]
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