Non-banking lender Indiabulls Housing Finance Ltd. has approved raising an aggregate sum of ₹10,000 crore or its equivalent in US Dollars or any other currency through one or more eligible investors, it said in an exchange filing.
The board approved the fund raise, create, offer, borrow, issue and allot debentures and / or bonds and / or debt and / or external commercial borrowings (ECB) or any other non-convertible securities through a public offer or a private placement or any other combination thereof.
Indiabulls Housing Finance's Securities Issuance and Investment Committee of the board has been authorised by the board to examine, evaluate various options to raise funds in a manner most beneficial to the company.
In an interaction with CNBC-TV18 on March 6, Gagan Banga of Indiabulls Housing Finance said that the company's legacy book, which they will eventually run down is worth ₹25,000 crore.
Banga also said that he is expecting a Return on Assets (RoA) for Indiabulls Housing to be at 3% for financial year 2026 and that he will cap the leverage at 2 times.
Shares of Indiabulls Housing Finance are trading 1.8% lower at ₹166.20.
First Published: Mar 15, 2024 12:30 PM IST
