February 7, 2024
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Indiabulls Housing Finance Rights Issue at Chanakyanipothi.com.
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About Indiabulls Housing Finance
Indiabulls Housing Finance is a non-deposit taking housing finance company (“HFC”) registered with the NHB. It is also a notified financial institution under the SARFAESI Act. It pre-dominantly offers housing loans and loans against property to its varied client base which comprises (i) salaried employees; (ii) self-employed individuals; (iii) micro, small and medium-sized enterprises (“MSMEs”) and (iv) corporates. It also offers mortgage loans to real estate developers in India in the form of lease rental discounting for commercial premises and construction finance for the construction of residential premises. As of September 30, 2023, it was among the top 5 housing finance companies in India in terms of asset under management, and its housing loans and non-housing loans constituted 52% and 48%, respectively of its Loan Book on a standalone basis. As on September 30, 2023, its Loan Book was Rs.543,407.4 million on a consolidated basis. It is in the process of shifting to an asset-light business model, focusing on co-lending of loans along with banks and an increased sell down of its loan portfolio
Its collateral primarily consists of residential and commercial properties. In addition, as of September 30, 2023, the average ticket size (“ATS”) for home loans is Rs.2.5 million and Rs.6.9 million for loans against property.
As of September 30, 2023, it had a network of 218 branches which gives it a pan-India presence.
As at September 30, 2023, its consolidated gross NPAs as a percentage of its consolidated Loan Book was 3.4% and its consolidated net NPAs for the six months ended September 30, 2023 as a percentage of its consolidated Loan Book were 1.9%.
Get more information about the company @ https://www.indiabullshomeloans.com/
| Indiabulls Housing Finance Rights Issue 2024 Details | |
| Issue Open | February 7, 2024 – February 13, 2024 |
| Security Name | Indiabulls Housing Finance Limited |
| Issue Size (Shares) | 24,62,26,515 |
| Issue Size (Amount) | Rs.3,693.40 Crores |
| Issue Price | Rs.150 per share |
| Face Value | Rs.2 per share |
| Listing At | BSE, NSE |
| Terms of Payment | Issue Price of Rs.150/- to be paid as Rs.50/- per share on Application and Rs.100/- per share in one or more calls as may be determined by the Board at its sole discretion from time to time. |
| Entitlement | 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
| Indiabulls Housing Finance Rights Issue 2024 Timetable | |
| Last Date to buy shares | January 31, 2024 |
| Record Date | February 1, 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | February 7, 2024 |
| Renunciation of Rights Entitlements | February 8, 2024 |
| Bid/Offer Closes On | February 13, 2024 |
| Deemed Date of Allotment | February 22, 2024 |
| Credit Date | February 26, 2024 |
| Listing Date | February 28, 2024 |
Objects of Indiabulls Housing Finance 2024:
The Company intends to utilize the Net Proceeds from the Issue towards funding the following objects:
Augmenting the capital base of the company; and
General corporate purposes.
Indiabulls Housing Finance Rights Issue 2024 Subscription Status
Indiabulls Housing Finance Rights Issue 2024 is subscribed 0.05 times as on February 7, 2024 5:00:00 PM. The total bid quantity received by BSE, NSE is 13,415,061 shares.
| Indiabulls Housing Finance Rights Issue 2024 Financials | ||||
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 72,907.98 | 74,945.24 | 81,973.32 | 93,239.03 |
| Revenue | 4,157.92 | 8,725.79 | 8,993.90 | 10,030.12 |
| Profit After Tax | 594.17 | 1,129.69 | 1,177.74 | 1,201.59 |
| Amount in Rs. Crore | ||||
Company Contact Information
Indiabulls Housing Finance Limited
5th Floor, Building No. 27, KG Marg,
Connaught Place
New Delhi – 110001.
Indiabulls Housing Finance 2024 Lead Manager
Nuvama Wealth Management Limited
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Indiabulls Housing Finance 2024 Registrar
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Indiabulls Housing Finance 2024 To the Point Guidance by Paresh Gordhandas, Research Analyst
CMP as on 07 February 2024 (Close) Rs. 185.70
Rights shares are offered at Rs. 150
TTM EPS Rs. 19.83
TTM PE 9.32 (Higher than average)
52 Week High Rs. 234.80
52 Week Low Rs. 91.80
Book Value Rs. 342.01
Technical View: From chart and technical analysis viewpoint, the scrip is in the short term down trend.
Guidance: Since long, the scrip is quoted much below its book value. This also indirectly indicate that the stock market is not quite bullish about this scrip. The scrip is quoted at a PE Multiple much higher than its historical trend, as indicated on Moneycontrol.com
The company has shown sliding topline and bottomline during last 5 years, which is not quite impressive aspect. We are not bullish about this Rights issue. May Avoid
