DHFL seeks board's approval to raise funds via share sale

Debt-ridden DHFL on Tuesday said it plans to raise funds through equity share sale or other means as part of the debt resolution plan of the company. The DHFL board is scheduled to hold meeting on Friday (August 30), in which the said proposal is to be placed, the firm said in a regulatory filing. "A meeting of the board of directors of the company is scheduled to be held on Friday, August 30, 2019, to consider and approve the proposal for issuance of equity shares and/or other securities of the company including by way of preferential issue, pursuant to a conversion of debt to equity under the proposed resolution plan," it said. The fund mop-up can also be through any other permissible mode or a combination of prospectus/placement document or letter of offer or any other permissible offer, it added. Separately, DHFL also informed that it has defaulted to the tune of Rs 14.13 crore towards interest payments on bonds issued by the company.