DHFL fights to stay afloat: From wooing banks to managing brand name

Dewan Housing Finance (DHFL), India’s second-largest housing finance company (HFC), finds itself in a peculiar quandary. It is now seeing its credit ratings coming down at a time when banks are not willing to lend and raising money from retail investors is not an option any more.

In many ways, it is the reflection of the larger non-banking finance company (NBFC) sector fighting a liquidity crisis. But DHFL is a special case.

The company first came into focus when its stock was hammered down about 50 per cent in September last year.

DSP Mutual Fund tried to sell a DHFL