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Indiabulls Real Estate gains on plan to raise Rs 100 crore through NCDs
(11:40, 20 Mar 2017)
The announcement was made after market hours on Friday, 17 March 2017.

Meanwhile, the S&P BSE Sensex was down 147.53 points, or 0.50% to 29,501.46.

On the BSE, 3.83 lakh shares were traded in the counter so far, compared with average daily volumes of 8.67 lakh shares in the past one quarter. The stock had hit a high of Rs 83.65 and a low of Rs 81.65 so far during the day.

The stock hit a 52-week high of Rs 105.25 on 30 May 2016. The stock hit a 52-week low of Rs 51.80 on 18 March 2016.

The stock had outperformed the market over the past one month till 17 March 2017, rising 7.16% compared with 4.76% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.74% as against Sensex's 11.93% rise.

The mid-cap company has equity capital of Rs 98.33 crore. Face value per share is Rs 2.

Indiabulls Real Estate said it proposes to issue secured, redeemable, non-convertible debentures (NCD) of face value Rs 10 lakh each, aggregating Rs 100 crore, on a private placement basis. The NCD issue with tenor of 13 months will open on 22 March 2017, the company said in a notice. The company had received shareholders approval for the same in September 2016 through a special resolution at its annual general meeting then.

On a consolidated basis, Indiabulls Real Estate's net profit fell 13.7% to Rs 58.58 crore on 58.8% decline in net sales to Rs 291.21 crore in Q3 December 2016 over Q3 December 2015.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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