The rights issue of Indiabulls Housing Finance witnessed oversubscription on February 13, the final day for public bidding. By 2 pm, bids for 39,45,05,105 shares were received against the offer of 24,62,26,515 shares, resulting in a subscription rate of 1.6 times across NSE and BSE.
Commencing on February 7, the issue saw a gradual rise in subscription levels, with 5 percent on the opening day, followed by 22 percent, 38 percent, and 77 percent on February 8, 9, and 12, respectively.
Priced at Rs 150 per equity share, Indiabulls Housing Finance aims to raise Rs 3,693 crore through this rights issue, exclusively available to existing shareholders. Investors holding two shares can bid for one share during the issue, with an initial payment of Rs 50 per rights equity share (33.3% of the issue price). The remaining Rs 100 per rights equity share (66.7% of the issue price) will be payable at a later date determined by the company’s board.
Upon successful allotment, these partly paid-up shares from the rights issue will be listed on exchanges and open for trading.
Indiabulls Housing Finance shares traded at Rs 178.70, registering a gain of approximately 3.27 percent as of 3:10 pm on BSE.
