Indiabulls Housing Finance Surges 5% on issuing NCD

Indiabulls Housing Finance has raised Rs. 500 crore by releasing debentures on a private placement basis.

Indiabulls Housing Finance said in a BSE filing on Saturday that the company has allotted its first tranche of secured redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each totaling Rs 500 crore. The bonds will carry coupon rate of 8.30 per cent which is payable annually and at maturity. The maturity date is 23 November 2018. The tenor of the issue is 2 years.

Indiabulls Housing Finance is the second major private housing finance company in India, regulated by the National Housing Bank (NHB).

At 2:58 PM Indiabulls Housing Finance share price was trading at Rs. 762.05, up by 4.89%. The stock opened at Rs. 735 as against its last close of Rs. 726.50.

The company has the consolidate PE of 13.62 for FY 15-16 and 12.27 per cent promoters holding pledge. The consolidated trailing PE for the company stands at 11.86. The standalone PE for the FY15-16 is 13.41 while its standalone trailing PE is 12.22.  Indiabulls Housing Finance has the debt-equity ratio of 4.66 and its dividend yield stands at 7.43 per cent. The stock also trades in Futures and options. The closest resistance level for Indiabulls Housing Finance share price is Rs. 761.65 while the closest support stands at Rs. 712.05.

Indiabulls housing finance share price went as high as Rs. 764, surging 5.16 per cent intraday.

Dynamic Levels have identified the stock among top 500 performers for the quarter. The company has not incurred any loss in last two quarters and has strong fundamentals. Indiabulls housing finance is safe for investment.

For more details on the stock, refer to the Indiabulls Housing Finance share price history and Indiabulls Housing Finance share price forecast page of Dynamic Levels website.