Indiabulls Housing Finance surges on getting nod to raise Rs 50,000 crore via bonds
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Indiabulls Housing Finance is currently trading at Rs. 155.85, up by 1.40 points or 0.91% from its previous closing of Rs. 154.45 on the BSE.
The scrip opened at Rs. 157.50 and has touched a high and low of Rs. 159.20 and Rs. 155.50 respectively. So far 593084 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 313.50 on 16-Jun-2021 and a 52 week low of Rs. 130.20 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 172.00 and Rs. 152.60 respectively. The current market cap of the company is Rs. 7344.86 crore.
The promoters holding in the company stood at 9.72%, while Institutions and Non-Institutions held 43.28% and 47.01% respectively.
Indiabulls Housing Finance’s board appointed committee has approved a proposal to raise capital through bonds. The board constituted a committee at its meeting held on March 22, 2022, has authorised the company to raise funds through issue of NCD and/or bonds, in one or more tranches, on private placement basis up to the shareholders existing authorisation of Rs 50,000 crore.
The company is going to seek shareholders' approval for the fundraise plan in its ensuing Extraordinary General Meeting (EGM) scheduled to be held on April 18, 2022.
Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).
