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IHFL raises $150 mn through FCCB route

IHFL raises $150 mn through FCCB route New Delhi: Indiabulls Housing Finance has raised USD 150 million (Rs 1,091 crore) by issuing foreign currency convertible bonds, the company said. The securities issuance committee has approved the allotment of secured Foreign Currency Convertible Bonds (FCCBs) of USD 150 million, convertible into equity share of Rs 2 each, Indiabulls Housing Finance said in a regulatory filing. The FCCBs, set to mature on March 4, 2026, bear a coupon rate of 4.5 per cent. The bonds are proposed to be listed on Singapore Exchange Securities Trading Ltd. Indiabulls said as many as 4,49,91,756 equity shares of the company would be in the trade-off with the FCCBs. The issue is also the first FCCB by a financial institution from India in the last 10 years.

Stocks to watch: Heranba Industries, Wipro, IB Housing Fin, Jet Airways

Here are the top stocks that are likely to be in focus today: Wipro: Set to be its biggest ever buyout, Wipro will acquire London-headquartered Capco in a $1.45 billion (over Rs 10,500 crore) deal. Heranbas Industries: Shares of Heranba Industries will list on the bourses today. The issue price has been fixed at Rs 627 per share. Axis Bank: The private lender, on Thursday, said that one of its promoters, National Insurance Company, has asked it to classify the insurer as a public shareholder. Mindspace REIT: Mindspace Business Parks REIT plans to raise up to Rs 450 crore through the issue of debt securities.

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