Dewan Housing soars on plan to acquire 50% stake in PAMC and PTC from PGLH

Piramal Finance Ltd. | Finance - Housing | BFSI | BSE: 544597 | NSE: PIRAMALFIN

29 Oct 2014 Evaluate

Dewan Housing Finance Corporation is currently trading at Rs. 363.00, up by 8.90 points or 2.51% from its previous closing of Rs. 354.10 on the BSE.

The scrip opened at Rs. 358.45 and has touched a high and low of Rs. 366.00 and Rs. 358.45 respectively. So far 69140 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 425.95 on 08-Jul-2014 and a 52 week low of Rs. 135.00 on 13-Nov-2013.

Last one week high and low of the scrip stood at Rs. 377.00 and Rs. 339.90 respectively. The current market cap of the company is Rs. 4673.23 crore.

The promoters holding in the company stood at 39.18% while Institutions and Non-Institutions held 30.03% and 30.78% respectively.

Dewan Housing Finance Corporation (DHFL) has approved the acquisition of 50% of the equity share capital of Pramerica Asset Managers (PAMC), the asset management company of Pramerica Mutual Fund (PMF) and Pramerica Trustees (PTC), the trustee for the Pramerica Mutual Fund, from PGLH of Delaware Inc. (Prudential) at a total cash consideration of around Rs 24.49 crore.

After the completion of the proposed acquisition, DHFL and Prudential group shall become 50:50 shareholders of PAMC and PTC and DHFL shall become the co-sponsor of PMF.

Last year, DHFL and Prudential Financial Inc. created a life insurance joint venture, DHFL Pramerica Life Insurance Co. which serves the life insurance needs of customers across cities and towns in India.

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

Piramal Finance Share Price

2017.85 102.85 (5.37%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
LIC Housing Finance	581.30
Housing & Urban Dev.	232.30
Bajaj Housing Financ	87.55
Piramal Finance	2017.85
PNB Housing Finance	1090.90
View more..

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