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The bonds were raised on Tuesday with a 39-month tenure at 9.70%, tighter than the 9.95% initial price guidance earlier in the day. The bonds are labelled as so-called social bonds and the proceeds from the same will be deployed towards home loans in the affordable housing segments and small-enterprises.
Mathew Cyriac, known for his successful investments, including the turnaround of Gokaldas Exports, on Thursday purchased 2.5 million shares of Indiabulls Housing Finance at INR2,13.57 each.
Sameer Gehlaut, the founder of Indiabulls Housing Finance, has completely exited the company, according to Gagan Banga, VC & MD of the company. The de-promoterisation process under SEBI guidelines was completed earlier this year, and Gehlaut no longer holds any shareholding in the company. The company is also undergoing a transition process to a new identity, with the new name, Samman Capital, already approved by the Reserve Bank of India. The transition is expected to be completed by the end of the current quarter.