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18-Aug2016

DHFL strengthens on plan to raise Rs 10,000 crore through NCDs

DHFL is currently trading at Rs. 268.90, up by 4.95 points or 1.88% from its previous closing of Rs. 263.95 on the BSE.

The scrip opened at Rs. 265.50 and has touched a high and low of Rs. 270.00 and Rs. 265.50 respectively. So far 95,118 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 270.00 on 18-Aug-2016 and a 52 week low of Rs. 140.55 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 270.00 and Rs. 254.15 respectively. The current market cap of the company is Rs. 7,846.45 crore.

The promoters holding in the company stood at 34.89%, while Institutions and Non-Institutions held 34.79% and 30.32% respectively.

Dewan Housing Finance Corporation (DHFL) will raise up to Rs 10,000 crore through issuance of secured non-convertible debentures (NCDs) in one or more tranches. The company's board gave approval for the same at its meeting held on August 17, 2016, subject to the receipt of necessary approvals, for an amount up to Rs 2,000 crore along with a green shoe option of up to Rs 8,000 crore, in one or more tranches.

The company's board has also authorised the Finance Committee to undertake necessary decisions in relation to the proposed Issue, deciding from time to time the tenure of the NCDs, coupon/ interest offered, schedule of payment of interest/coupon and the principal, details of the security/charge to be created in favour of the NCD holders; details of redemption of the NCDs and allied matters in relation to the issue of NCDs, at the time of the issue of the relevant tranche prospectus.

Dewan Housing Finance Corporation is among the oldest private sector Housing Finance Companies (HFC) in India.



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