DHFL spikes 16% on investor proposals to buy stake; final resolution plan to be approved by July end
Dewan Housing Finance Corporation (DHFL)shares are up 16% intraday with the lender receiving investor proposals for buying stake in the company.
The company said in a filing on the exchanges, "There have been discussions for stake sale by the promoters to a strategic partner with further equity infusion,” it added.
The company said in a filing on the exchanges, "There have been discussions for stake sale by the promoters to a strategic partner with further equity infusion,” it added.
DHFL promoters currently hold 40%.
Further, the company expects to obtain lenders’ approval on the final resolution plan by end of July 2019. In a board meeting on July 22, the company received non-binding indicative term sheets as a part of the corporate restructuring plan.
The troubled lender said that was in the process of submitting a resolution plan to the lenders and the lenders were expected to give an in-principle approval to the plan by the end of July.
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