DHFL plans to reduce CP exposure to improve liquidity constraints

DHFL has received re-affirmation of their present credit rating from agencies like CARE (AAA) and ICRA (A1)

Dewan Housing Finance Limited (DHFL) plans to reduce their borrowings through Commercial Papers (CP) to around 6 per cent of their total liabilities over the coming months. At present the company has Rs 22 billion worth of CPs outstanding, which will reduce to Rs 1 billion by the end of March 2019, the company said in a filing with the stock exchanges.  

While there is a plan to reduce borrowings through CPs, the company plans to tap borrowings from banks and international markets and raise resources by selling down their priority sector lending and non-priority sector lending portfolios.

As CP