Indiabulls Housing Finance To Raise Rs 5,000 Crore

Indiabulls Housing Finance Ltd.'s board of directors has approved raising funds up to Rs 5,000 crore.

The fundraise will be through the issue of equity shares or any other convertible securities by way of a private placement, including a preferential offer, rights issue or other methods, according to an exchange filing released on Wednesday.

In a board meeting, Indiabulls authorised the securities issuance and investment committee to evaluate various options to raise funds and to decide on the terms and conditions of the issue, the mortgage lender said.

Shares of Indiabulls closed 3.19% lower at Rs 206.40 apiece on the BSE, as compared with a 2.23% fall in the benchmark Sensex.