Indiabulls Real Estate raises Rs 500 cr via debentures

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“Operations Committee of the Board of Directors of the company has allotted NCDs aggregating Rs 500 crore,” Mumbai- based developer said in a regulatory filing.

Indiabulls Real Estate has raised Rs 500 crore through the issue of non-convertible debentures (NCDs) on private placement basis.

“Operations Committee of the Board of Directors of the company has allotted NCDs aggregating Rs 500 crore,” Mumbai- based developer said in a regulatory filing.

The amount has been raised at a coupon rate of 9 per cent for a tenure of 36 months.

The shareholders had approved this proposal through a special resolution passed at annual general meeting held in September last year.

The promoters had recently sold 3.3 crore shares of the company for about Rs 662.83 crore through an open market transactions.
Source: http://www.moneycontrol.com/news/business/indiabulls-real-estate-raises-rs-500-cr-via-debentures-2315215.html
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