Right Issue Letter of Offer Link: https://www.indiabullshomeloans.com/uploads/news/project-lakshya-letter-of-offer-january-29-2024-filing-version-0696575001706537541.pdf

• Issue Price set Rs 150 per Rights Equity Shares (as defined below) (having face value of Rs 2 per Equity Share including a premium of Rs 148 per Equity Share*)

*Assuming full subscription and receipt of all Call Monies with respect to Rights Equity Shares

• Rights Issue Opening Date: Wednesday, February 7, 2024; Rights Issue Closing Date: Tuesday, February 13, 2024
• Rights entitlement ratio: One Equity Shares for every Two fully paid-up Equity Shares held by an Eligible Equity Shareholder (as defined hereinafter) of the Company as on the Record Date Thursday, February 1, 2024, for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (“Eligible Equity Shareholders”)
• Last Date for credit of Rights Entitlements: Tuesday, February 6, 2024
• Last date for On Market Renunciation of Rights Entitlements^#: Thursday, February 8, 2024 [i.e. Right entitlements can be bought and sold on February 7, 2024 and February 8, 2024]

^# Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the Renouncees on or prior to the Issue Closing Date.

Note – For details in relation to Eligible Equity Shareholders holding Equity Shares in physical form as on Record Date, please see “Terms of the Issue” on page 674 of the letter of offer dated January 28, 2024 (“Letter of Offer”). 

MUMBAI, 2nd FEBRUARY, 2024 (GPN): Indiabulls Housing Finance Limited (“Company” or “Issuer”), a non-deposit taking housing finance company registered with the National Housing Bank, has filed its offer document for a Right Issue for its shareholders for an amount aggregating to Rs 36,933.98 million on January 28, 2024.

The Right Issue consists of 24,62,26,515 partly paid-up Equity Shares of face value Rs 2 each (“Rights Equity Shares” and when fully paid-up“Equity Shares”) for an amount aggregating to Rs 36,933.98 million. Rights Issue Price sets Rs 150 per Rights Equity Share (including a premium of Rs 148 per Equity Share).

The Company is pre-dominantly offering housing loans and loans against property to a varied client base which comprising of (i) salaried employees; (ii) self-employed individuals; (iii) micro, small and medium-sized enterprises 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, the Company had a network of 218 branches pan-India and its loan book stood at Rs 543,407.4 million. It stood amongst the top 5 housing finance companies in India in terms of assets under management, and housing and non-housing loans constituted 52% and 48% of its loanbook on a standalone basis and the consolidated gross NPA stood at 3.4%.

For Fiscal 2023 consolidated revenue from operation stood at Rs 87,192.8 million against Rs 89,833.1 million for the fiscal 2022. Profit after tax stood at Rs 11,296.9 million for fiscal 2023 over Rs 11,777.4 million for fiscal 2022.

For the six months ended September 30, 2023, consolidated total revenue from operations was Rs 41,275.9 million and profit after tax was Rs 5,923.7 million. Standalone CRAR was 26.0% during this period.

Out of the net proceeds (post deduction of issue related expenses) from the rights issue, an amount of Rs 27,341.1 million for augmenting the capital base of the Company and amount of Rs 8,398.9 million from the net proceeds will be utilised for general corporate purposes, provided that the amount to be utilized for general corporate purposes shall not exceed 25% of the gross proceeds.

Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and InCred Capital Wealth Portfolio Managers Private Limited are the lead managers to the issue and KFin Technologies Limited is the Registrar to the Issue.

*Payment Schedule of Rights Equity Shares

Amount Payable per Rights Equity Share	Face Value (₹/ Rs)	Premium (₹/ Rs)	Total (₹/ Rs)
On Application	0.67	49.33	50.00
Additional Call(s) as may be decided by the Board / Securities Issuance and Investment Committee from time to time	1.33	98.67	100.00
Total	2.00	148.00	150.00

-Ends