DHFL spikes on plan to raise Rs. 50,000 crore

Dewan Housing Finance Corporation is planning to raise Rs. 50,000 crore through the debt market and bank borrowings during the current financial year in order to support business growth. For this, the company is looking to raise up to Rs. 12,000 crore through issuance of Non Convertible Debentures (NCDs) next week. The company had raised Rs. 35,000 crore through bond issuance in FY18.

Its lending plan for this financial year is 20 per cent higher than the previous year and the NCD issue is set to open on May 22 and close on June 4, with a base size of Rs. 3,000 crore and an option to retain over subscription of up to Rs. 9,000 crore.

Dewan Housing Finance Corporation Limited is a deposit-taking housing finance company. The company provides financing products to lower and middle income groups in India. It offers Housing Loan and Non-Housing Loans. It offers loans for construction or purchase of residential property and loans against property.

On Friday, the stock has opened at Rs.625.50 per share with a high/low of Rs. 628.80/618 and at 10:54 am, the stock is quoting at Rs. 621.80 per share with a previous close of 618.05.