Dewan Housing Finance raises Rs 250 cr debt

Dewan Housing Finance (DHFL) has raised Rs 250 crore through private placement of debt and plans to raise another Rs 500 crore through private placement of non-convertible debentures (NCDs) in the current financial year, according to Vice-Chairman and Managing Director Kapil Wadhawan.

In July, DHFL had Rs 225 crore through a qualified institutional placement of equity shares and another Rs 75 crore through a preferential issue to the promoter group.

The housing finance company planned to raise up to Rs 1,000 crore in August by issuing NCDs to institutional and retail investors but put the plan on hold since it felt it would not be able to raise the funds at the desired rate. “There have been a number of NCD issues by NBFCs (non-banking finance companies) in the recent past. We will assess the retail participation in the issues that have recently taken place before we fix a time for our issue,” said Wadhawan.