Dewan Housing raising up to $130 million via share sale

The company is offering the shares in the indicative price band of 478.18 to 488.25 rupees a share

Dewan Housing Finance Corporation is raising as much as $130 million through sale of shares to portfolio investors, according to a marketing term sheet seen by Reuters on Tuesday.

The company, which is seeking a license for small finance bank from Reserve Bank of India, is offering the shares in the indicative price band of 478.18 rupees to 488.25 rupees a share, the document showed.

Dewan Housing's shares ended 1.5% higher at 503.35 rupees ahead of the launch of the share sale on Tuesday. Barclays, Kotak Mahindra Capital and Motilal Oswal Investment Advisors Private Ltd are the bankers to the issue.