Dewan Housing raises USD 130 m from overseas QIP issue

Dewan Housing Finance (DHFL) has raised USD 130 million from international markets through a qualified institutional placement (QIP) of shares priced at Rs 478.18 apiece, merchant bankers said today.
The second largest private mortgage player launched the QIP issue yesterday and sold close to 13 million shares to overseas investors. The issuer had offered shares at Rs 478.18 apiece, a 5 per cent discount to the closing price of the shares on the BSE yesterday, i-banking sources said.
A spokesperson of the city-based lender declined to comment over the QIP issue.
Barclays, Kotak Mahindra and Motilal Oswal Securities acted as the advisors to the issue, which will be listed on the BSE post-allotment.

The DHFL shares closed 2.6 per cent down at Rs 489.25 on the BSE, whose main gauge Sensex closed flat with a positive bias, ahead of the Budget and monthly derivatives expiry.