CEO Gagan Banga said the company's liquidity situation continues to be very strong as it raised around Rs 58,000 crore since September 2018 and has a cash buffer of Rs 28,000 crore.
Shares of Indiabulls Housing Finance rallied more than 5 percent intraday on June 20 after the company decided to buyback all non-convertible debentures maturing in July and August aggregating to Rs 2,285 crore.
In an interview with CNBC-TV18 managing director and CEO Gagan Banga said the company's liquidity situation continues to be very strong as it raised around Rs 58,000 crore since September 2018 and has a cash buffer of Rs 28,000 crore.
He added that Rs 11,000 crore has been invested in mutual funds.
“Since September last year, the sector has been facing challenges around liquidity, but what has the company done. The company has raised closed to Rs 58,000 crore since September 21, 2018 to date. These are fresh money which have come in through bank term-loans, securitization, through bonds,” said Banga.
Banga further said that Indiabulls Housing has zero exposure to Dewan Housing Finance and Anil Dhirubhai Ambani group.
The company was trading in the negative last week over allegations of financial fraud made against the firm in a petition filed in the Supreme Court. However, the petitioner later withdrew the writ petition saying his signature was misused and he was not aware of the filing.
At 1020 hrs, Indiabulls Housing was quoting Rs 584.90, up 5.31 percent on the BSE.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
