Shares of Indiabulls Real Estate surged almost 7% on Friday. The company is planning to raise up to ₹500 crore through the issue of non-convertible debentures on private placement basis.

The stock jumped 6.6% to close at ₹204.45 on the BSE.

On the volume front, 63.35 lakh shares of the company were traded on the BSE and more than 5 crore shares changed hands on the NSE during the day. The promoters had on Thursday sold 3.3 crore shares of the firm for ₹662.83 crore through open market transactions.