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DHFL surges on plan of raising Rs 4,000 crore

02 Aug 2016 Evaluate

Dewan Housing Finance Corporation (DHFL) is currently trading at Rs. 226.40, up by 3.75 points or 1.68% from its previous closing of Rs. 222.65 on the BSE.

The scrip opened at Rs. 225.00 and has touched a high and low of Rs. 228.30 and Rs. 224.50 respectively. So far 110626 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 268.00 on 10-Aug-2015 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. 228.30 and Rs. 220.00 respectively. The current market cap of the company is Rs. 6623.81 crore.

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

DHFL is planning to raise up to Rs 4,000 crore through a maiden issue of non-convertible debentures (NCDs), where investors have the option of linking the coupon with retail inflation.

The issue will open for subscription on August 3 and close on August 16 and the net proceeds of the issue will be used for onward lending, financing and general corporate purposes.

The company proposes to issue secured redeemable NCDs of face value of Rs 1,000 each aggregating up to Rs 4,000 crore. For investors, there will be an option to choose between three, five and ten year tenors with monthly, annual and cumulative payment options.

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

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