Indiabulls Real Estate redeems debentures worth Rs. 300 crore

Realty major Indiabulls Real Estate has redeemed debentures worth Rs. 300 crore ahead of their scheduled redemption in 2018 and 2019, the company said in a regulatory filing. The company had raised Rs 300 crore through these debentures last year with coupon rate of 11%. The company had issued these 3,000 secured, redeemable, non-convertible debentures of face value Rs. 10 lakh each on a private placement basis. Of these, 2,000 debentures were due on 11 March 2019, while 1,000 debentures were scheduled to be redeemed on 11 September 2018.