Indiabulls Housing Finance said it will raise Rs 565 crore through an issue of debentures on private placement basis.

“The company proposes to issue 5,650 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 565 crore (plus gueenshoe option), on placement basis,” it said in a regulatory filing.

The issue opens on May 30 and closes on the same day. Coupon rate of the debentures has been fixed at 9 percent.

Shares of the company closed at Rs 696.15, a piece on BSE, up 1.98 percent from previous level.