Share price of Indiabulls Housing Finance Limited surged over nine per cent on Thursday, April 22, a day after it announced that it has entered into a strategic partnership with HDFC Limited, to offer housing loans to homebuyers at competitive rates. On Thursday, Indiabulls Housing Finance opened on the BSE at Rs 171, touching an intra day high of Rs 185.60 and an intra day low of Rs 169.25, in the trading session so far. According to the regulatory filing by the private banking company to the BSE on Wednesday, April 21, Indiabulls Housing Finance tied up with Housing Development Finance Corporation or HDFC to offer home loans.
According to the statement, the mortgage lender will originate retail home loans as per the jointly drawn up credit policy and retain 20 per cent of the loan in its books, while 80 per cent will be on the HDFC books. Also, Indiabulls Housing Finance will service the loan account throughout the life cycle of the loan.
On the NSE, Indiabulls Housing Finance opened at Rs 170, touching an intra day high of Rs 185.70 and an intra day low of Rs 169.25, in the session so far. Indiabulls Housing Finance is the second largest housing finance company in the country. The Gurugram-headquartered banking company is regulated by the National Housing Bank.
Indiabulls Housing Finance was last trading 9.15 per cent higher at Rs 180.20 on the BSE.