DHFL to seek board's approval for raising up to Rs 6,300 crore

Dewan Housing Finance Corporation Ltd (DHFL) said Board of Directors of the company will meet on May 4 to consider raising up to Rs 6,300 crore.

A meeting of the Board of Directors of the Company will be held on May 4, 2016 to consider and approve "... the issuance of secured redeemable non-convertible debentures up to an amount of Rs 5,000 crore, unsecured non-convertible debentures up to an amount of Rs 1,000 crore and perpetual debt up to an amount of Rs 300 crore till the date of the next Board Meeting", it said in a regulatory filing.

The company had passed a special resolution at its Annual General Meeting, which was held on July 23, to consider upon the said proposals.

According to PTI, “DHFL will announce the financial results for the quarter and the fiscal ended March 31, on May 4.”

Scrip of the firm yesterday closed 2.82 per cent lower at Rs 199.75 on BSE.