NEW DELHI: Indiabulls Real Estate plans to raise Rs 480 crore through issue of debentures on private placement basis.
In a BSE filing, the Mumbai-based developer has said that it “proposes to issue secured, redeemable, non-convertible debentures of face value Rs 10 lakh each aggregating Rs 480 crore, on a private placement basis.”
The issue will open on June 25 and the amount would be raised in one or more tranches, it added.
During the 2017-18 fiscal, the company’s net profit rose to Rs 1,980.20 crore from Rs 356.67 crore. Total revenue also doubled to Rs 5,926.53 crore from Rs 2,320.34 crore in the previous financial year.
Source: Press Trust of India