Indiabulls Housing Finance raises Rs 4,000 crore via QIP
Despite the current volatile market conditions, Indiabulls Housing Finance (IBHFL), the second largest housing loan company in the country behind HDFC, raised Rs 4,000 crore ($600 million) from a clutch of institutional investors through its just-concluded qualified institutional placement (QIP). The issue was priced at Rs 702 per share, which was 4% discount to IBHFL’s Friday closing price of Rs 730 on the BSE.