Indiabulls shares jump by 9%; here’s what to expect
Indiabulls shares: Indiabulls Housing announced it is arising from a consolidation phase over the past few years.
As the NBFC returns on the path of development, the board has restarted paying dividends to shareholders, it said.
Indiabulls shares (IBHFL) lifted 9 per cent in Friday’s trade after the NBFC said its council had approved raising funds via the issue of NCDs and bonds, not like equity shares, up to Rs 35,000 crore, in one or more tranches, on private placement ground.
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Indiabulls Housing said it would increase the amount in a year after receipt of shareholders’ approval in the annual general meeting (AGM).
The share even gained as the Indiabulls Housing board urged a final dividend of Rs 1.25 per equity stock FY23. Following the result, the share raised 9.09 per cent to strike a high of Rs 139.15 on BSE. Despite this, the share is down 11 per cent year-to-date.
Indiabulls Housing said it has been arising from a consolidation stage over the past few years. As the NBFC brings back on the path of development, the board has restarted payment of dividends to shareholders, it said, continuing that Indiabulls Housing is well-capitalised with a capital sufficiency of around 23 per cent on a standalone basis and 31 per cent on a consolidated ground as at the end of March quarter.
