Dewan Housing slips over 3% on fund raising plan via share sale

NEW DELHI: Dewan Housing Finance Corporation Ltd slipped as much as 3.2 per cent in trade on Wednesday, after the company said it 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 scrip was trading 3.1 per cent lower at Rs 486.95. It hit a low of Rs 486 and a high of Rs 503.35 in trade today.

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 Rs 478.18 to Rs 488.25 a share, the document showed.