Mumbai: Indiabulls Housing Finance on Thursday offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December this year.
In a stock exchange filing, the company said it will also evaluate further pre-mature redemption of its NCDs from time to time.
"The Company hereby issues an offer to all Debenture holder(s) for pre-mature redemption of its NCDs maturing in November and December 2019 at par," the filing said.
Indiabulls Housing Finance (IBH) continues to maintain strong liquidity with cash and cash equivalents at around 20% of its total assets as on 10 October, 2019, it added.
"The Company has aggregate liquidity of more than ₹18,500 crore as on October 10, 2019, which provides around 100% cover over IBH's debt repayments till September 2020," it added.
Shares of Indiabulls Housing Finance rallied over 14% on Thursday after rating agency Crisil reaffirmed the company's ratings and said it has aggregate liquidity to cover its debt repayment obligations till September 2020.
Indiabulls Housing Finance gained 14.03% to close at ₹197.15 on the BSE. Intra-day, the stock surged nearly 18% to touch a high of ₹204.
On NSE, the scrip settled 14.07% higher at ₹197.40.
The company's market capitalisation (m-cap) surged ₹1,036 crore to ₹8,429.62 crore.
In terms of traded volume, over 8 crore shares were traded on the NSE, while 77.96 lakh shares changed hands on the BSE.