The Rs 900-crore NCD issue by Indiabulls Housing begins on Friday.

Mumbai: Thursday, Indiabulls Housing Finance announced a Rs 900-crore debt sale via a public issue of secured, redeemable, non-convertible debentures.

The issue is only Rs 100 crore in size, with a greenshoe option for an additional Rs 800 crore. The company said in a statement that the public offering will begin on Friday and end on March 17.

The company is offering coupon rates ranging from 8.88% to 10.15% per annum, and the issue will be listed on the BSE and NSE after it closes.

NCDs have tenures of 24 months (series I, II, and III), 36 months (series IV, V, and VI), and 60 months (series IV, V, and VI) (series VII & VIII).

The company is also offering a 0.25% annual incentive to category III and IV investors who are also primary holders on the deemed date of allotment.

At least 75% of the net proceeds of the issue will be used for future lending, financing, and repayment of interest and principal on existing borrowings, with the remainder going to general corporate purposes.

As of December 2022, the company’s consolidated cash and cash equivalents were Rs 3,716.81 crore, its borrowings (other than debt securities) were Rs 28,433.74 crore, and it had a loan book of Rs 53,922.14 crore.