Indiabulls Housing Finance offers to pre-pay NCDs

Indiabulls Housing Finance on Thursday offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December this year.

In a stock exchange filing, the company said it will also evaluate further pre-mature redemption of its NCDs from time to time.

"The Company hereby issues an offer to all Debenture holder(s) for pre-mature redemption of its NCDs maturing in November and December 2019 at par," the filing said.

Indiabulls Housing Finance (IBH) continues to maintain strong liquidity with cash and cash equivalents at around 20 per cent of its total assets as on October 10, 2019, it added.

"The Company has aggregate liquidity of more than Rs 18,500 crore as on October 10, 2019, which provides around 100 per cent cover over IBH's debt repayments till September 2020," it added.

Shares of Indiabulls Housing Finance rallied over 14 per cent on Thursday after rating agency Crisil reaffirmed the company's ratings and said it has aggregate liquidity to cover ...