Indiabulls Housing Finance has raised Rs 500 crore by issuing debentures on a private placement basis. The company has allotted its first tranche of secured redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each aggregating Rs 500 crore.

The bonds will carry a coupon rate of 8.30 percent per annum (payable annually and at maturity) and the maturity date is November 23, 2018. The tenor of the issue is two years.

Indiabulls Housing Finance is the second largest private housing finance company in India, regulated by the National Housing Bank (NHB).