 "Dewan Housing Finance dips after fixing QIP floor price")
Shares of Dewan Housing Finance Corporation (DHFL) has dipped 3% at Rs 486 on BSE in early morning trade in otherwise firm market after housing finance company has fixed a floor price for its qualified institutional placement (QIP) issue.
The stock opened at Rs 501 and touched a high of Rs 503 so far. A combined 250,574 shares changed hands on the counter till 0942 hours on BSE and NSE.
On Tuesday, February 24, in a late evening note to exchanges, DHFL said it launched the QIP issue with a floor price of Rs 494.95 a share and will not offer a discount of more than 5% on it, as per the relevant regulations.
The company planning to raise up to USD 130 million (approx Rs 800 crore) through sale of shares to portfolio investors, is offering the shares in the indicative price band of Rs 478.18 to Rs 488.25 a share, the Reuters report suggests quoting a marketing term sheet.
The stock opened at Rs 501 and touched a high of Rs 503 so far. A combined 250,574 shares changed hands on the counter till 0942 hours on BSE and NSE.
On Tuesday, February 24, in a late evening note to exchanges, DHFL said it launched the QIP issue with a floor price of Rs 494.95 a share and will not offer a discount of more than 5% on it, as per the relevant regulations.
The company planning to raise up to USD 130 million (approx Rs 800 crore) through sale of shares to portfolio investors, is offering the shares in the indicative price band of Rs 478.18 to Rs 488.25 a share, the Reuters report suggests quoting a marketing term sheet.
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