Business

Indiabulls Housing Finance offers to pre-pay NCDs

ANI | October 18, 2019 04:01 PM
Just before closing hour, the company's stock was trading 17 pc higher at Rs 231.50

Mumbai (Maharashtra) [India], Oct 18 (ANI): Indiabulls Housing Finance has offered pre-mature redemption of all non-convertible debentures (NCDs) maturing in November and December.

"The company will also evaluate further pre-mature redemption of its NCDs from time to time," it said in regulatory filings at stock exchanges.

"Indiabulls Housing Finance continues to maintain strong liquidity with cash and cash equivalents at around 20 per cent of its total assets as on October 10. The company has aggregate liquidity of more than Rs 18,500 crore which provides around 100 per cent cover over its debt repayments till September 2020."

The Delhi High Court is hearing public interest litigation (PIL) alleging fund diversion and accounting irregularities by its promoters.

And the Reserve Bank of India (RBI) has rejected the home financier's proposed merger with private sector lender Lakshmi Vilas Bank (LVB). (ANI)

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