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DHFL surges on plan to raise Rs 75 crore via NCDs

20 Dec 2017 Evaluate

Dewan Housing Finance Corporation (DHFL) is currently trading at Rs. 618.85, up by 9.30 points or 1.53% from its previous closing of Rs. 609.55 on the BSE.

The scrip opened at Rs. 609.35 and has touched a high and low of Rs. 623.85 and Rs. 609.35 respectively. So far 127331 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 677.85 on 03-Nov-2017 and a 52 week low of Rs. 227.55 on 22-Dec-2016.

Last one week high and low of the scrip stood at Rs. 623.85 and Rs. 570.50 respectively. The current market cap of the company is Rs. 19467.11 crore.

The promoters holding in the company stood at 39.24%, while institutions and non-institutions held 32.22% and 28.53% respectively.

DHFL has proposed to issue secured redeemable non-convertible debentures (NCDs) amounting to Rs 75 crore including a greenshoe option of upto Rs 300 crore on private placement basis, pursuant to special resolution passed by the shareholders of the company at the 33rd annual general meeting held on July 21, 2017.

The issue will open on December 22 and close on the same day. The tenure of the securities is 1151 days. The rating agency CARE has put a rating of AAA to the said issue.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

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