Indiabulls Housing Finance Limited has informed the Exchange regarding 'This is to inform you that RBI vide their letter dated October 9, 2019 has informed that the application for voluntary amalgamation of the Company with Lakshmi Vilas Bank can t be allowed. Now that the merger will not happen with Lakshmi Vilas bank, the uncertainty of last 5 months on the business is lifted and the Company will focus on its growth of the core business of housing finance. From its core business, the Company has paid a total of Rs 10,530 crores ($ 1.5 billion) in dividends translating to total dividends of Rs 271 per share on a Rs 2 paid up share to its shareholders in the last 10 years. The Company will continue with its policy of quarterly dividends going forward. The Company has strong networth of approx Rs 19,000 crores ($2.7 billion) and healthy liquidity and cash balances of over Rs 18,000 crores ($2.5 billion) as on date. The Company has also announced a board meeting on October 14th, 2019, Monday for considering buyback of its shares, subject to the board approval, the Company upon buyback of securities will have a ratio of aggregate of secured and unsecured debts to the paid up capital and free reserves of not more than 6:1 on standalone and consolidated basis. We thank all our shareholders for their patience during this period of uncertainty since April 2019. '.
The information displayed herein is uploaded by the concerned Company. The said uploaded information is displayed without any verification of adequacy, accuracy and veracity. The Exchange in discharge of its role of dissemination of uploaded information on this website immediately on its receipt. The Company shall be solely responsible and liable for any omission, commission, errors and misrepresentations in the contents of the Information. The Exchange disclaims any liability arising out of the contents of the information uploaded by the Company and in no event, Exchange will be held liable for any damages, claims arising out of such information.