IBHFL firms up on plans of fund raising

Indiabulls Housing Finance is currently trading at Rs 302.60, up by 4.00 points or 1.34% from its previous closing of Rs 298.60 on the BSE. The scrip opened at Rs 300.00 and has touched a high and low of Rs 304.10 and Rs 299.55 respectively. So far 8003 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 318.30 on 29-Apr-2014 and a 52 week low of Rs. 166.00 on 25-Sep-2013. Last one week high and low of the scrip stood at Rs 318.30 and Rs 270.00 respectively. The current market cap of the company is Rs 10,119 crore. The promoters holding in the company stood at 41.81%, while Institutions and Non-Institutions held 41.68% and 16.51 % respectively. Indiabulls Housing Finance (IBHFL) is reportedly planning to raise Rs 4,500 crore through bond issues in 2014-15. In 2013-14, it raised Rs 10,525 crore through the bond issuance route, which contributed to 26% of the incremental borrowing done by the company. The company is well capitalised with a capital adequacy ratio of over 19% and will not be having any requirements during the fiscal. Further, the company notched a growth of 24% in the post tax net at Rs 1,568.5 crore for FY14, with the last quarter coming in 23% higher at Rs 451.5 crore. It registered a loan growth of 20% during the fiscal. Indiabulls Finance Company is a Non-Deposit taking NBFC, registered with and regulated by RBI. IBHFL, along with its subsidiary IICL, will continue to focus on asset classes such as mortgages, commercial credit and commercial vehicle loans.