Indiabulls Real Estate said that it has raised Rs 25 crore by issuing non-convertible debentures (NCDs). Last month, the Mumbai-based company had announced that it proposed to raise up to Rs 200 crore through issue of NCDs on a private placement basis. So far, the company has raised Rs 131 crore in three tranches. In a filing to the BSE, Indiabulls Real Estate said that “the operations committee of the Board of Directors of the company has allotted NCDs aggregating Rs 25 crore”. Earlier this year, the company had raised over Rs 400 crore through this route. Indiabulls Real Estate is developing 11 projects with a total saleable area of 30.51 million square feet. It has presence in key metros of Mumbai, the NCR and Chennai. It has entered the London property market through acquisition of 22, Hanover Square in Mayfair, Central London, a 87,444 square feet commercial property, in July 2014.
[Source:- Money Control]
