Indiabulls Real Estate Raises Rs 30 Crore Via Debentures

New Delhi: Indiabulls Real Estate on Tuesday said it has raised Rs 30 crore through non-convertible debentures (NCDs).

In June, the Mumbai-based company had announced that it proposed to raise up to Rs 200 crore through issue of NCDs on a private placement basis.

Indiabulls Real Estate said in a BSE filing that the “company has allotted NCDs aggregating Rs 30 crore”.

The coupon rate for the NCDs is 10 per cent, it added.

In this round of issuance of NCDs, Indiabulls has raised about Rs 180 crore so far.

Earlier this year, the company had raised over Rs 400 crore through this route.

Indiabulls Real Estate is developing 11 projects with a total saleable area of 30.51 million square feet. It has presence in key metros of Mumbai, NCR and Chennai. It has also entered London property market.