Indiabulls Housing Finance on Friday said its Rs 3,693 crore rights issue will be open from February 7 to February 13. The issue consists of 24,62,26,515 partly paid-up equity shares for an amount aggregating to Rs 3,693.39 crore. The issue price is fixed at Rs 150 per share, having a face value of Rs 2, meaning the issue comes at a premium of Rs 148 per share, the company said in a statement.

Of the total proceeds from the issue, Rs 273.4 crore will be used to augment the capital base and Rs 83.99 crore will be utilised for general corporate purposes. A rights issue is where a company raises funds by selling additional shares to existing shareholders of the company. In case an individual does not own shares of the company as of the record date, they are not eligible to participate in the rights issue. These rights shares are sold at a discount to the current market price.