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Indiabulls Financial Services Ltd has raised Rs 500 crore through issuance of secured non-convertible debentures (NCDs).
The secured NCDs issued by Indiabulls Financial Services have a tenure of 10 years at a monthly coupon rate of 10.15 per cent.
“The funds raised through this will be used mainly for long-term retail mortgages,” IBFSL Chief Executive Officer, Mr Gagan Banga, said in a statement here.
Indiabulls Financial Services offers home loans, loans against property, commercial vehicle loans, and commercial credit to prime corporates among other services.
The company has over 3,00,000 customers and cumulative disbursements of over Rs 50,000 crore.
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