The Rights Issue of Indiabulls Housing Finance Limited opened on Wednesday, to raise ? 36,933.98 million.
The Right Issue consists of up to 24,62,26,515 partly paid-up Equity Shares of face value ?2 each ("Rights Equity Shares" and when fully paid-up"Equity Shares") for cash at a price of ? 150 per Equity Share (including a premium of ? 148 per Equity Share).
The Company is pre-dominantly offering housing loans and loans against property to a varied client base which comprising of (i) salaried employees; (ii) self-employed individuals; (iii) micro, small and medium-sized enterprises and (iv) corporates. It also offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises.
As of September 30, 2023, the Company had a network of 218 branches pan-India and its loan book stood at ? 543,407.4 million. It stood amongst the top 5 housing finance companies in India in terms of assets under management, and housing and non-housing loans constituted 52% and 48% of its loanbook on a standalone basis and the consolidated gross NPA stood at 3.4%.
For Fiscal 2023 consolidated revenue from operation stood at ? 87,192.8 million against ? 89,833.1 million for the fiscal 2022. Profit after tax stood at ? 11,296.9 million for fiscal 2023 over ? 11,777.4 million for fiscal 2022.
For the six months ended September 30, 2023, consolidated total revenue from operations was ? 41,275.9 million and profit after tax was ? 5,923.7 million. Standalone CRAR was 26.0% during this period.
Out of the net proceeds (post deduction of issue related expenses) from the rights issue, an amount of ? 27,341.1 million for augmenting the capital base of the Company and amount of ? 8,398.9 million from the net proceeds will be utilised for general corporate purposes, provided that the amount to be utilized for general corporate purposes shall not exceed 25% of the gross proceeds.
Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and InCred Capital Wealth Portfolio Managers Private Limited are the lead managers to the issue and KFin Technologies Limited is the Registrar to the Issue.
Shares of Indiabulls Housing Finance Limited was last trading in BSE at Rs. 186.10 as compared to the previous close of Rs. 182.75. The total number of shares traded during the day was 560533 in over 4473 trades.
The stock hit an intraday high of Rs. 188.70 and intraday low of 182.60. The net turnover during the day was Rs. 104339170.00. |
