Mortgage firm Dewan Housing Finance (DHFL) today said it planned to raise up to Rs 1,000 crore through share sale.
The board has agreed in principle for raising of long-term resources up to an amount of Rs 1,000 crore by way of issue of equity share through preferential allotment, qualified institutional placement or otherwise, DHFL said in a statement.
Besides, the board has also approved the merger of its subsidiary First Blue Home Finance, formerly known as Deutsche Postbank Home Finance, with itself.
The share exchange ratio will be such that for every 97 equity shares of First Blue Home Finance, 10 equity shares of DHFL will be given to shareholders of the merged entity.
The appointed date of amalgamation is April 1, 2011, it said.