News Details

( 06 Oct 2021)
Indiabulls Housing F - Fixed Deposit Of 50% For May, 2022 Dollar Bond

Second Tranche of Dollar Bond maturing in May, 2022 transferred to lender repayment trust (LRT)

For dollar bond repayment maturing in May, 2022, Company has transferred the second tranche of the Reserve amount ? 682 Cr to the LRT. Trustee in turn will create a fixed deposit (FD) using the Reserve amt with a Scheduled Commercial Bank, and such Reserve amt shall be utilized for scheduled redemption of the Bonds in compliance with applicable laws. Maturity of FDs will be co-terminus with the maturity date of the Bonds. At maturity, FD proceeds will be used to discharge Co's liabilities to holders of the Bonds. FD now covers 50% of the total dollar bond maturity value.

OakNorth Stake Sale

In Nov 2015, IBH acquired 39.76% stake in OakNorth for ? 663 Cr USD 100 Million. Through various rounds of secondary mkt sale, Co has completely sold off its stake and has realized monies of ? 3,049 Cr ~USD 450 million. Invest. in OakNorth has yielded Co an annualized IRR of 48% over 6 years.