Indiabulls Housing Finance further reserves <span class='rupeeNews'>R<span>s</span></span> 291.49 cr for FCCBs redemption

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Indiabulls Housing Finance further reserves Rs 291.49 cr for FCCBs redemption	Share Back
(15 Apr 2024)
Indiabulls Housing Finance announced the transfer of the second tranche of the reserve amount [Rs 291.49 crore] to the lender repayment trust for purpose of foreign currency convertible bonds (FCCBs) redemption on optional put date (29 September 2024). The Trustee in turn has created a fixed deposit [FD] using the reserve amount with a Scheduled Commercial Bank, and such reserve amounts shall be utilized for redemption of the FCCBs in compliance with applicable laws if the put option is exercised by the FCCBs holders. Fixed deposits aggregating to Rs 583 crore, now covers 50% FCCBs amount of March 2024 put option [total outstanding issue of USD 135 million].
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