Dewan Housing hits overseas market with $130 mn QIP issue

Mortgage major DHFL has hit the international markets to raise up to USD 130 million through a qualified institutional placement (QIP) of shares, sources in merchant bankers said today.
Dewan Housing Finance (DHFL) launched the QIP issue in the international markets and will be selling close to 13 million shares to overseas investors, i-banking sources said.
In a late evening note to exchanges, the company 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 pe rcent on it, as per the relevant regulations.
The company said its finance committee today passed a resolution to go ahead with the QIP following a decision by the board on January 16 and shareholders' nod through a postal ballot yesterday.

Barclays, Kotak Mahindra and Motilal Oswal Securities are acting as the advisors to the issue.
A company spokesperson declined to comment on the issue.
The DHFL counter closed rose 1.4 percent to Rs 502.01 on the BSE, whose benchmark Sensex closed in the green with a 0.1 percent gains.