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Dewan Housing Finance Corporation informs about updates on board meeting

15 Jan 2016 Evaluate

With reference to the earlier letter dated January 08, 2016 pertaining to the Company’s intimation regarding the ensuing Board meeting, Dewan Housing Finance Corporation has now informed that in order to augment long-term resources for its business, the Company proposes to seek the approval of its Board of Directors at their ensuing meeting scheduled to be held on January 20, 2016, for preferential offer and issue of warrants, convertible into equivalent number of equity shares of Rs 10 each to the promoter group entity i.e. Wadhawan Global Capital Private Limited at a price (inclusive of premium) which shall not be less than the minimum price arrived at in accordance with the provisions of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time. The total equity investment by the said promoter entity under the subject warrant issuance shall be up to an amount of Rs 500 Crore. The above proposal will be in accordance with Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009, as amended, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and subject to the approval of the Members of the Company through postal ballot by way of passing special resolution under the Companies Act, 2013 and rules framed there under.

The above information is a part of company’s filings submitted to BSE.

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