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DHFL gets SEBI nod for stake sale in AMC business

Posted On: 2019-06-26 18:02:42

Dewan Housing Finance Corporation Ltd (DHFL) had earlier entered into a binding term sheet with PGLH of Delaware, Inc. ("Prudential") for divestment of the Company's entire shareholding of 50% in DHFL Pramerica Asset Managers Private Limited (DPAMPL) (i.e. 17.12% being held directly and 32.88% being held by its wholly owned subsidiary, DHFL Advisory & Investments Private Limited) & the Company's entire shareholding of 50% in DHFL Pramerica Trustees Private Limited (DPTPL) and had further executed a Share Purchase agreement with the parties for the said transaction.

In continuation to the above, the Securities and Exchange Board of India (SEBI) vide its letters 25th June, 2019 addressed to DPAMPL has granted its prior approval for proposed change in controlling interest of DPAMPL and for amendment in Trust Deed under the applicable provisions of SEBI (Mutual Funds) Regulations, 1996 subject to certain conditions. Accordingly, the divestment of the Company's entire shareholding in DPAMPL and DPTPL as stated above to Prudential is expected to be completed shortly.

Shares of DEWAN HOUSING FINANCE CORPORATION LTD. was last trading in BSE at Rs.79.75 as compared to the previous close of Rs. 75.4. The total number of shares traded during the day was 5028860 in over 23604 trades.

The stock hit an intraday high of Rs. 81.7 and intraday low of 68.7. The net turnover during the day was Rs. 384763701.


Source: Equity Bulls

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