Indiabulls Housing Finance Rights Issue Date, Share Price, History, Allotment Status and More Details

News: Indiabulls Housing Finance Limited (IBHFL) is a prominent housing finance company regulated by the Reserve Bank of India. Established in May 2005, IBHFL has been accredited with a rating of ‘AA’ by CRISIL and ICRA. With a balance sheet size of ₹0.70 trillion as of March 31, 2023, IBHFL has assisted over 1.4 million satisfied customers by providing loans totaling more than ₹3.08 trillion. The company’s national presence includes more than 200 offices across India, along with an office in Dubai serving NRI and PIO customers.

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Background

1. Establishment: Indiabulls Housing Finance Limited (IBHFL) was founded in May 2005.

2. Regulation: It operates under the regulatory framework of the Reserve Bank of India (RBI).

3. Accreditations: IBHFL holds a ‘AA’ rating from both CRISIL and ICRA.

Key Highlights

1. Loan Assistance: IBHFL has assisted over 1.4 million customers by providing home loans totaling more than ₹3.08 trillion.

2. National Presence: The company has a network of 200+ offices across India, including an office in Dubai serving NRI and PIO customers.

Rights Issue Details

The Indiabulls Housing Finance Rights Issue 2024 is an opportunity for existing shareholders to participate in the company’s growth. Let’s delve into the specifics:

1. Issue Period: The rights issue opens on February 7, 2024, and concludes on February 13, 2024.

2. Issue Price: Each equity share is priced at ₹150.

3. Entitlement: Eligible shareholders are offered 1 Rights Equity Share for every 2 fully paid-up Equity Shares held on the record date (February 1, 2024).

4. Issue Size: The total issue size is 246,226,515 shares, amounting to ₹3,693.40 Crores.

5. Face Value: The face value of each share is ₹2.

6. Listing: The rights issue will be listed on both the BSE and NSE.

Payment Terms

Shareholders participating in the rights issue need to pay the issue price of ₹150 per share. The payment structure is as follows:

1. Application: ₹50 per share

2. Subsequent Calls: ₹100 per share (as determined by the Board at its discretion).

Issue Timetable

Here are the important dates related to the rights issue:

1. Last Date to Buy Shares: January 31, 2024

2. Record Date: February 1, 2024

3. Bid/Offer Opens: February 7, 2024

4. Renunciation of Rights Entitlements: February 8, 2024

5. Bid/Offer Closes: February 13, 2024

6. Deemed Date of Allotment: February 22, 2024

7. Credit Date: February 26, 2024

8. Listing Date: February 28, 2024

Company Financials

IBHFL’s revenue decreased by approximately 2.98% between March 2022 and March 2023. The company remains committed to providing fast, user-friendly, and attractively priced home loans in the affordable housing sector, contributing to the ecosystem that supports affordable housing finance.

The Indiabulls Housing Finance Rights Issue presents an opportunity for shareholders to participate in the company’s growth story and contribute to making affordable housing accessible to all.

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FAQ’s

Q: When can we expect the allotment status to be available?

A: The allotment status is currently experiencing a delay, but it is anticipated to be resolved in the coming weeks.

Q: What is the cost of the rights equity share?

A: The rights equity share is priced at Rs 150 per share.

Q: How much is the company looking to raise through the rights issue?

A: The company has set a target to raise Rs 3,693 crore through the issuance of rights shares.