A delay in interest payment by Dewan Housing Finance Ltd (DHFL) and related concerns over liquidity crisis continued to haunt investors as shares of the company slumped for the third straight day on Friday.
Accordingly, DHFL shares on the BSE settled at Rs 83.50 per share, lower by Rs 10.40 or 11.08 per cent.
The mortgage lender was unable to service interest payment on non-convertible debentures (NCDs) worth Rs 960 crore due on Tuesday.
Following the delay in payment, rating agencies ICRA and CRISIL downgraded the rating on Rs 850 crore worth of commercial paper of DHFL.
The company in a regulatory filing on Friday said that it would ensure the payment of the due interest within seven days.
"The company is taking all necessary steps and shall ensure the payment of the due interest within the cure period of 7 (seven) days as prescribed under the respective Trust Deeds pertaining to the said NCDs. We shall make the necessary disclosures at appropriate time," DHFL said.
--IANS
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