Indiabulls has announced that it successfully gathered ₹25 crore through the issuance of Non-Convertible Debentures (NCDs). The Mumbai-based real estate firm had previously declared ambitions to raise up to ₹200 crore via this financial instrument. Indiabulls Real Estate has already raised ₹131 crore in three tranches.
According to a filing with the BSE, the Operations Committee of Indiabulls Real Estate's Board of Directors has officially allocated NCDs, thereby accumulating the ₹25 crore. Previously, the company successfully raised ₹400 crore through a similar financing approach.
Currently, Indiabulls Real Estate is actively involved in the construction of 11 distinct real estate projects, encompassing a total area of 30.51 million square feet. The builder maintains a significant presence in major metropolitan areas such as Chennai, Mumbai, and the National Capital Region (NCR). Furthermore, Indiabulls Real Estate has broadened operations to the London property market with the acquisition of 22 Hanover Square in Mayfair, Central London, which represents a commercial property spanning 87,444 square feet acquired in July 2014.