DHFL tumbles 5% as firm defaults on Rs 1,571 crore bond payment

Shares of Dewan Housing Finance Corporation (DHFL) plunged over 5 per cent in trade on Tuesday after the company informed bourses that it has defaulted on its financial repayment obligations worth Rs 1,571 crore with regard to the issuance of bonds and commercial papers.

The defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers (CPs), Dewan Housing Finance Corporation (DHFL) said in a regulatory filing.

In a break-up, the non-banking financial company (NBFC) said it has defaulted on Rs 46.92 crore towards interest amount on secured NCDs (9.92 per cent and 9.40 per cent/10 year tenor); on NCDs issued through a public issue for multiple tenors of amount involving interest of Rs 363.77 crore and principal amount of Rs 1,059.91 crore.


DHFL also made a default of Rs 100 crore occurred on unsecured commercial papers.

The company has not been able to meet its obligations towards debt repayment in the recent past and there have been several cases of defaults on commercial papers and bonds.

It is estimated to be sitting on a debt-pile of over Rs 90,000 crore, according to PTI.

The shares of the company closed 5.20 per cent lower at Rs 46.50 on BSE.