Indiabulls Housing Finance has raised USD 150 million (Rs 1,091 crore) by issuing foreign currency convertible bonds, the company said on Thursday. The securities issuance committee has approved the allotment of secured Foreign Currency Convertible Bonds (FCCBs) of USD 150 million, convertible into equity share of Rs 2 each, Indiabulls Housing Finance said in a regulatory filing. The FCCBs, set to mature on March 4, 2026, bear a coupon rate of 4.5 per cent. The bonds are proposed to be listed on Singapore Exchange Securities Trading Ltd.
Indiabulls said as many as 4,49,91,756 equity shares of the company would be in the trade-off with the FCCBs. This is Indiabulls Housing s debut convertible bond issuance. Besides, it is also the first FCCB by a financial institution from India in the last 10 years.
The key equity barometers bounced back and hit the day s high in morning trade. The Nifty marched towards the 14,800 mark. Realty stocks witnessed bargain hunting after a four-day losing streak.
At 10:20 IST, the barometer index, the S&P BSE Sensex, was up 352.84 points or 0.71% to 50,097.16. The Nifty 50 index advanced 93.75 points or 0.64% to 14,769.45. The equity benchmarks saw value buying after declining over 4% in the past five sessions.
In the broader market, the S&P BSE Mid-Cap index gained 1.08% while the S&P BSE Small-Cap index added 0.73%.
The market breadth was strong. On the BSE, 1472 shares rose and 542 shares fell. A total of 91 shares were unchanged.
Read more about Real Estate stocks spike on Business Standard. Real Estate stocks were trading in green, with the S&P BSE Realty Index index increasing 59.48 points or 2.21% at 2747.5 at 09:49 IST.
Read more about Real Estate stocks edge higher on Business Standard. Real Estate stocks were trading in green, with the S&P BSE Realty Index index increasing 16.56 points or 0.6% at 2784.37 at 09:49 IST.