Dewan Housing Finance Corporation to raise Rs.4000 crore

The Board of Directors of Dewan Housing Finance Corporation Ltd at its meeting held on January 30, 2013, has considered the borrowings by way of Private Placement of Secured Debentures upto an amount not exceeding Rs. 3000 crore, in one or more tranches (including an option to retain over-subscription for issuance of additional NCDs, in such manner as the Board may at its sole discretion determine).

The Board also considered borrowing by way of issue of Unsecured Redeemable Non-Convertible Subordinated Debentures (Tier II) upto an aggregate value of Rs. 1,000 crore on private placement basis.

The Dewan Housing Finance Corporation Ltd stock was trading at Rs.205.75, down by Rs.0.50 or 0.24%. The stock hit an intraday high of Rs.209.30 and low of Rs.200.15.

The total traded quantity was 0.47 lakhs compared to 2 week average of 0.36 lakhs.

Source : Equity Bulls

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