Dewan Housing allots shares to UK based investment trust
Dewan Housing Finance Corporation (DHFL) today said it has allotted a total of over 1.04 crore equity shares worth Rs 78 crore to an UK-based investment trust and a promoter group company upon conversion of securities.
By PTI |
NEW DELHI: Dewan Housing Finance Corporation (DHFL) today said it has allotted a total of over 1.04 crore equity shares worth Rs 78 crore to an UK-based investment trust and a promoter group company upon conversion of securities.
"With the conversions of both the instruments, the Tier-I capital of the company has increased by around Rs 75.50 crore. With this infusion of fresh capital, our commitment to serve the low and middle income segment will be further strengthened," DHFL Vice Chairman and MD Kapil Wadhawan said.
With this allotment of Celedonia Investments would increase its stake in DHIL to 13.53 per cent from 2.18 per cent.
The Committee of Directors (CoD) of the company at its meeting today approved the allotment of over 70.65 lakh shares to London-based Caledonia Investments Plc upon conversion of equal number of Optionally Convertible Preference Shares held by them. The equity shares were alloted at Rs 75 each to Caledonia Investments which as of June 30 holds 2.27 per cent stake in the company, a company statement said.
Dewan Housing also allotted 33.35 lakh equity shares worth Rs 25 crore to promoter group company Wadhawan Holdings Pvt Ltd upon conversion of equal number of convertible equitable warrants held by them.
These new shares issued to Wadhawan Holdings would be subject to lock-in period of upto March 26, 2009, it said.
The aforesaid equity shares would rank equal in all respect with the existing shares and upon issue of these 1.04 crore equity shares, the aforesaid OCPS and warrants would be cancelled, the company added.
Shares of the company closed at Rs 68.90, down 4.83 per cent on the BSE.
"With the conversions of both the instruments, the Tier-I capital of the company has increased by around Rs 75.50 crore. With this infusion of fresh capital, our commitment to serve the low and middle income segment will be further strengthened," DHFL Vice Chairman and MD Kapil Wadhawan said.
With this allotment of Celedonia Investments would increase its stake in DHIL to 13.53 per cent from 2.18 per cent.
The Committee of Directors (CoD) of the company at its meeting today approved the allotment of over 70.65 lakh shares to London-based Caledonia Investments Plc upon conversion of equal number of Optionally Convertible Preference Shares held by them. The equity shares were alloted at Rs 75 each to Caledonia Investments which as of June 30 holds 2.27 per cent stake in the company, a company statement said.
Dewan Housing also allotted 33.35 lakh equity shares worth Rs 25 crore to promoter group company Wadhawan Holdings Pvt Ltd upon conversion of equal number of convertible equitable warrants held by them.
These new shares issued to Wadhawan Holdings would be subject to lock-in period of upto March 26, 2009, it said.
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The aforesaid equity shares would rank equal in all respect with the existing shares and upon issue of these 1.04 crore equity shares, the aforesaid OCPS and warrants would be cancelled, the company added.
Shares of the company closed at Rs 68.90, down 4.83 per cent on the BSE.
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