 "DHFL launches QIP with floor price of Rs 494.95")
Housing finance company DHFL has launched its Qualified Institutional Placement (QIP) with floor price of Rs 494.95 per share.
However, it did not indicate how much amount it is going to raise from institutional investors.
The floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under relevant SEBI regulations is Rs 494.95 per Equity Share. The closing price of DHFL stock on Bombay Stock Exchange was 502.1, about 1.44 per cent higher over previous close.
According to draft prospectus filed with BSE the net proceeds would be used augmenting long term resources to enhance fund raising capacity for the growing housing loans business and the general requirements of our company.
Its capital adequacy ratio was 16.16 per cent on September 30, 2014. The loan portfolio was Rs 47,756 crore at end of December 2014.
It has applied to Reserve Bank of India for converting itself into Small finance bank.
However, it did not indicate how much amount it is going to raise from institutional investors.
The floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under relevant SEBI regulations is Rs 494.95 per Equity Share. The closing price of DHFL stock on Bombay Stock Exchange was 502.1, about 1.44 per cent higher over previous close.
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Pursuant to Regulation 85 of the SEBI ICDR Regulations the Company may offer a discount of not more than five per cent on the floor price so calculated for the QIP, DHFL informed BSE.
According to draft prospectus filed with BSE the net proceeds would be used augmenting long term resources to enhance fund raising capacity for the growing housing loans business and the general requirements of our company.
Its capital adequacy ratio was 16.16 per cent on September 30, 2014. The loan portfolio was Rs 47,756 crore at end of December 2014.
It has applied to Reserve Bank of India for converting itself into Small finance bank.