Dewan Housing Finance Corporation rose 1.66% to Rs 619.65 at 10:35 IST on BSE after the company said it proposes to raise Rs 75 crore by issuing secured redeemable non-convertible debentures.
The announcement was made after market hours yesterday, 19 December 2017.Meanwhile, the S&P BSE Sensex was almost flat at 33,835.73.
On the BSE, 76,000 shares were traded in the counter so far, compared with average daily volumes of 4.37 lakh shares in the past two weeks. The stock had hit a high of Rs 622.80 and a low of Rs 609.35 so far during the day. The stock hit a record high of Rs 677.85 on 3 November 2017. The stock hit a 52-week low of Rs 227.55 on 22 December 2016.
Dewan Housing Finance Corporation (DHFL) said it proposes to issue secured redeemable non-convertible debentures amounting to Rs 75 crore, including a greenshoe option of upto Rs 300 crore on private placement basis.
The issue will open on 22 December 2017 and close on the same day. The tenure of the instrument is 1151 days. The instrument offers coupon of 7.97% per annum compounded annually, payable on maturity. The rating agency CARE has put a rating of AAA to the said issue.
Net profit of DHFL rose 26.09% to Rs 293.30 crore on 20.95% rise in total income to Rs 2614.25 crore in Q2 September 2017 over Q2 September 2016.
DHFL provides loans for purchase or construction of residential houses.
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