Two news from Indiabulls Housing Finance.
Firstly, the company yesterday said that it has offered to buyback all non-convertible debentures (NCDs) worth Rs 800 crore, which will be maturing by June 30, 2022.
The Asset Liability Management Committee (ALCO) has decided to make an offer to the NCD holders to acquire these NCDs on the exchange at par (coupon rate or the value at which it was given) under a negotiated trade with each individual NCD holder and hold them as treasury stock until maturity. The company said that it any NCD holder decides to sell their holdings on the exchange to the company under a negotiated trade, then they are required to "get in touch with company personnel" prior to June 28, 2022 to effect the trade.
It was noted during its Q4FY22 earnings report that Rakesh Jhujhunwala had hiked stake in the company by 0.2% to 1.28%, up from 1.08% held at end of Q3FY22.
In the second news, the NSE banned from trading in the futures and options segment of the stock for Thursday, May 12, as the scrip crossed 95% of the market-wide position limit the previous day. Yesterday, the stock was among the biggest losers, falling over 20% to Rs.111.15, a 2-year low.
The stock is among the gainers today morning but volatile – it opened 1% lower at Rs.109.70, going down to another new low at Rs.106.15 but from there it bounced back to Rs.119 levels, where it is currently trading.