Dewan Housing Finance Corporation Ltd allots 21230070 warrants

The Allotment Committee of the Board of Directors of Dewan Housing Finance Corporation Ltd at its meeting held on March 11, 2016 approved the issue and allotment of 2,12,30,070 (Two Crore, Twelve Lakh, Thirty Thousand and Seventy) number of warrants at the "Issue Price" of Rs. 235.515 (Rupees Two Hundred Thirty Five and Paise Five Hundred and Fifteen only) per warrant, upon receipt of 25% of Rs. 500,00,00,000 (Rupees Five Hundred Crore Only), i.e the total consideration, to M/s Wadhawan Global Capital Private Limited, promoter entity of the Company, convertible into equivalent number of equity shares of Rs. 10/- each, which shall be allotted within 18 (eighteen) months from the date of allotment of the said convertible warrants, in one or more tranches.

As the Company has allotted warrants, there is no change in the paid up equity share capital of the Company.

Shares of DEWAN HOUSING FINANCE CORPORATION LTD. was last trading in BSE at Rs.183.55 as compared to the previous close of Rs. 181.2. The total number of shares traded during the day was 233636 in over 3110 trades.

The stock hit an intraday high of Rs. 185.35 and intraday low of 180.2. The net turnover during the day was Rs. 42745287.

Source : Equity Bulls

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