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Indiabulls Real Estate to raise up to Rs 600 crore through NCD issue


Realty developer Indiabulls Real EstateNSE 1.18 % is planning to raise up to Rs 600 crore through a Non-Convertible Debentures (NCD) issue.

The issue of secured and redeemable NCDs with face value Rs10 lakh each will be a private placement, the company said in a regulatory filing.

Tenor of these NCDs will be up to 36 months and will be listed on the Bombay Stock Exchange and or the National Stock Exchange.

The company had already secured shareholders’ approvals for the proposed issue through a special resolution passed by at its 12th Annual General Meeting held on September 29, 2018.