DHFL declines 7% on reporting fresh default

The company said it defaulted on obligations worth Rs1,571cr associated with bonds and commercial papers.

Aug 20, 2019 07:08 IST India Infoline News Service

DHFL, Dewan Housing Finance

Shares of Dewan Housing Finance Corporation (DHFL) fell ~7% intraday on August 20 after the company reported on August 19 that it defaulted on its debt obligations.

The company said it defaulted on obligations worth Rs1,571cr associated with bonds and commercial papers.

The defaults are regarding interest payment on NCDs and CPs, wherein the company defaulted on Rs46.92cr towards interest amount on secured NCDs (9.92 percent and 9.40 per cent/10 year tenor); on NCDs issued through a public issue for multiple tenors of amount involving the interest of Rs363.77cr crore and the principal amount of Rs1,059.91cr. In addition, there has been a default of Rs100cr occurred on CPs

Dewan Housing Finance Corporation Ltd is currently trading at Rs45.80 down by Rs3.25 or 6.63% from its previous closing of Rs49.05 on the BSE.

The scrip opened at Rs45.65 and has touched a high and low of Rs47.45 and Rs45.20 respectively. So far 1,65,18,019 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,539.30cr.


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