Indiabulls to Covid-proof itself with Rs 11,000 cr debt, equity infusion plan
Indiabulls Group has a two-pronged action plan to survive the Covid-19 pandemic. Sources tell ET Now that this multi-crore debt and equity infusion plan in two stages. The first stage involves refinancing of Indiabulls Housing Finance Ltd (IBHFL) loans worth Rs 6,000-7,000 crore. During the second stage, the company plans to raise funds to the tune of $800 million or over Rs 6,000 crore via a preferential issue of equity route. The first stage, and the immediate priority according to sources, is to refinance nearly Rs 5,000-6,000 crore of loans.