Indiabulls Housing Finance raises Rs.3,996 crore from QIBs

Chennai, Sep 12 (IANS) Indiabulls Housing Finance Ltd on Saturday said it has raised Rs.3,996.79 crore through a premium issue of shares to qualified institutional buyers (QIB).

In a regulatory filing in BSE, the company said the capital was raised by issuing over 56,934,372 equity shares to QIB at a price of Rs.702 per share.

The company said the Securities Issue Committee of the Board of Directors at its meeting held on Friday declared the issue as closed.

The issue price of Rs.702 per share was five percent discount to the floor price for the issue earlier fixed at Rs.738.64 as approved by the shareholders.

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