INSUBCONTINENT EXCLUSIVE:
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.
