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Indiabulls Financial raises Rs500 crore through NCD issue

Indiabulls Financial raises Rs500 crore through NCD issue
PTI
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First Published: Fri, Sep 09 2011. 04 17 PM IST
Updated: Fri, Sep 09 2011. 04 17 PM IST
Mumbai: Indiabulls Financial Services Ltd (IBFSL) has raised Rs500 crore through the issuance of secured non-convertible debentures (NCDs).
The secured NCDs issued by Indiabulls Financial Services have a tenure of 10 years at a monthly coupon rate of 10.15%.
“The funds raised through this will be used mainly for long-term retail mortgages,” IBFSL chief executive officer Gagan Banga said in a statement here.
Indiabulls Financial Services, one of India’s leading non-banking financial companies (NBFCs), provides loans and other financial products, including home loans, loans against property, commercial vehicle loans and commercial credit to prime corporates.
The company has provided Rs50,000 crore worth of loans to over 3,00,000 satisfied customers till date.
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First Published: Fri, Sep 09 2011. 04 17 PM IST