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DHFL aims to raise up to Rs 500 crore through QIP

24 Feb 2012 Evaluate

Dewan Housing Finance Corporation (DHFL), one of the housing finance companies, aims to raise up to Rs 500 crore through a qualified institutional placement (QIP) of shares. The company has set the floor price at Rs 225.48 a share for the equity issue.

DHFL was incorporated in 1984. With more than two decades of experience, the company is among the oldest private sector Housing Finance Companies (HFC) in India. It is the fourth-largest HFC with a strong presence across India through its 72 branches and 116 service locations. DHFL caters to a large section of Indians working in the Middle East through its overseas branch in Dubai.

The company has posted a net profit of Rs 74.97 crore for the quarter ended December 2011, up 21.39% from Rs 61.76 crore in the corresponding year-ago period. Its total income has increased by 71.09% to Rs 661.88 crore for the quarter under review from Rs 386.85 crore for the similar quarter of the previous year.

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