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Rights Issue of Indiabulls Housing Finance Limited was oversubscribed over two times on the last day garnering more than Rs 7,500 crore.

The ? 36,933.98 million rights issue received bids of 50,11,41,444 against offered 24,62,26,515 fully paid-up Equity Shares ("Rights Equity Shares”) of face value ?2 each (“Equity Shares”) with a rights issue price at ? 150 per Rights Equity Share (including a premium of ? 148 per Equity Share).

Investors will have to pay Rs 50.0 per Rights Equity Share which constitutes 33.3% of the Issue Price and the balance Rs100.0 per Rights Equity Share which constitutes 66.7% of the Issue Price, will have to be paid, on one or more subsequent Call(s), as determined, from time to time at its sole discretion, by the Board or its Securities Issuance and Investment Committee.

The Rights entitlement ratio was One Equity Shares for every Two fully paid-up Equity Shares held by an Eligible Equity Shareholder of the Company as on the Record Date Thursday, February 1, 2024, for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (“Eligible Equity Shareholders”)

Out of the net proceeds from the Right issue, an amount of ? 27,341.1 million for augmenting the capital base of the Company and amount of ? 8,398.9 million from the net proceeds will be utilised for general corporate purposes.

Indiabulls Housing Finance Limited (“Company” or “Issuer”) is pre-dominantly offer housing loans and loans against property to our varied client base which comprises (i) salaried employees; (ii) self-employed individuals; (iii) micro, small and medium-sized enterprises (“MSMEs”) and (iv) corporates. Also offer mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises. As of September 30, 2023, company had a network of 218 branches pan-India and Loan Book was ? 543,407.4 million.

For Fiscal 2023 consolidated revenue from operation stood at ? 87,192.8 million against ? 89,833.1 million for the fiscal 2022. Profit after tax stood at ? 11,296.9 million for fiscal 2023 over ? 11,777.4 million for fiscal 2022.

For the six months ended September 30, 2023, consolidated total revenue from operations was ? 41,275.9 million and profit after tax was ? 5,923.7 million. Standalone CRAR was 26.0%during this period.

Nuvama Wealth Management Limited and InCred Capital Wealth Portfolio Managers Private Limited are the book running lead managers to the issue

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