Hong Kong: Housing finance lender Indiabulls Housing Finance Ltd plans to raise up to Rs 4,000 crore or $600 million in a share offering, tapping equity markets after investors sent its stock price up by over half since the beginning of the year.
Indiabulls' set an indicative price of Rs 702 per share for the deal, equivalent to a discount of 2.7 per cent to the closing price on Tuesday, according to a term sheet of the deal seen by Reuters on Wednesday.
The deal has a base size of around Rs 3,300 crore or $500 million, with an option to grow by around Rs 650 crore or $100 million to meet additional investors' demand.
Bank of America Merrill Lynch, CLSA and SBI Caps were hired as joint global coordinators for the offering.
Shares of Indiabulls have soared nearly 57 per cent since the beginning of the year, compared with a 7.8 per cent decline in the benchmark S&P BSE Sensex.
($1 = Rs 66.3675)
Hong Kong: Housing finance lender Indiabulls Housing Finance Ltd plans to raise up to Rs 4,000 crore or $600 million in a share offering, tapping equity markets after investors sent its stock price up by over half since the beginning of the year.
Indiabulls' set an indicative price of Rs 702 per share for the deal, equivalent to a discount of 2.7 per cent to the closing price on Tuesday, according to a term sheet of the deal seen by Reuters on Wednesday.
The deal has a base size of around Rs 3,300 crore or $500 million, with an option to grow by around Rs 650 crore or $100 million to meet additional investors' demand.
Bank of America Merrill Lynch, CLSA and SBI Caps were hired as joint global coordinators for the offering.
Shares of Indiabulls have soared nearly 57 per cent since the beginning of the year, compared with a 7.8 per cent decline in the benchmark S&P BSE Sensex.
($1 = Rs 66.3675)
Hong Kong: Housing finance lender Indiabulls Housing Finance Ltd plans to raise up to Rs 4,000 crore or $600 million in a share offering, tapping equity markets after investors sent its stock price up by over half since the beginning of the year.
Indiabulls' set an indicative price of Rs 702 per share for the deal, equivalent to a discount of 2.7 per cent to the closing price on Tuesday, according to a term sheet of the deal seen by Reuters on Wednesday.
The deal has a base size of around Rs 3,300 crore or $500 million, with an option to grow by around Rs 650 crore or $100 million to meet additional investors' demand.
Bank of America Merrill Lynch, CLSA and SBI Caps were hired as joint global coordinators for the offering.
Shares of Indiabulls have soared nearly 57 per cent since the beginning of the year, compared with a 7.8 per cent decline in the benchmark S&P BSE Sensex.
($1 = Rs 66.3675)
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