Indiabulls Housing Finance Ltd. raised 8.5 billion rupees via an offering of nonconvertible debentures on a private placement basis.
The debentures were issued with two options. The first option is worth 6 billion rupees with an annual coupon rate of 8.40% and a three-year tenor. The bonds are due March 19, 2021.
The second option is worth 2.5 billion rupees with an annual coupon rate of 8.3873%. The bonds are due June 15, 2021.
As of March 19, US$1 was equivalent to 65.30 Indian rupees.