DHFL to raise Rs 6,500 crore via debt

Mortgage firm Dewan Housing Finance Corporation Ltd (DHFL) said its board has given approval to raise Rs 6,500 crore capital through different debt instruments.
The proposal to raise the amount was approved at DHFL's annual general meeting held today.
"Board of Directors of the company has approved the issuance of non-convertible secured/unsecured debentures, up to an amount of Rs 5,000 crore; non-convertible subordinated unsecured debentures, up to an amount of Rs 1,000 crore; non-convertible perpetual unsecured debentures, up to an amount of Rs 500 crore," it said in a regulatory filing.
These issuances are for the ensuing quarter and till the date of the next board meeting, it added.

The company engaged into mortgage lending also reported an increase of 16 per cent in its net profit at Rs 201 crore during first quarter ended June 30.
DHFL stock closed 1.43 per cent higher at Rs 219.60 on BSE.