Indiabulls Housing repays Rs 7,075 crore of NCDs to investors in Sept 2021

NEW DELHI: Indiabulls Housing Finance (IBH) has repaid Rs 7,075.84 crores of non-convertible debentures (NCDs) to its investors in September 2021, the company said in a media release.

The repayments comprised of Rs 6,575.84 crore of Public issue of NCDs done by IBH and ICCL in September 2016 and September 2018 respectively and Rs 500 crore of NCDs issued by IBH in September 2011. The public NCDs were repaid ahead of their scheduled repayment dates.

For its May 2022 maturity USD 350 million dollar bonds, the company has voluntarily created a reserve fund, wherein, it will periodically transfer a sum totalling to 75% of the total maturity proceeds of these bonds, in three tranches of 25% each, to a debt repayment trust, managed by IDBI Trustee, and which will be utilized towards scheduled redemption of these bonds.

IBH has already transferred the first tranche in August 2021, and the next two tranches will be transferred in November 2021 and February 2022, it said.

Recently, the company’s base issue was oversubscribed by 4.04 times with a total collection of Rs 807.83 crore while the retail category oversubscribed by 2.44 times (of the Base Issue Size) with a total collection of Rs 146.22 crore.