Indiabulls Housing seals Rp12bn equity deal

By Jonathan Breen
15 Sep 2020

Indiabulls Housing Finance has raised Rp12bn ($163.8m) from an issue of new stock and the sale of a stake in UK firm OakNorth Holding.

The mortgage lender priced a qualified institutional placement (QIP) of 34.8m primary shares at Rp196.37 on Monday, netting Rp6.8bn. The price equates to a 5% discount to the QIP floor price of Rp206.70. But Indiabulls’ share price fell to around Rp186.40 on Tuesday afternoon in Mumbai, down 1.72% ...

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