TRADE
NIVESH : Shares of Dewan Housing Finance Corporation (DHFLNSE -2.32
%) fell over 3 per cent in Friday’s trade after a rating agency Brickwork
Ratings India downgraded secured NCDs and subordinated debt instruments of the
company.
In a BSE filing on Thursday, the company said the rating
action was taken amid limited progress in building up of liquidity.
The stock fell 3.18 per cent to hit a low of Rs 167.15 on
BSE. The stock later recouped losses as a report emerged suggesting the
US-based large private equity (PE) player Lone Star Funds is eyeing a stake in
DHFL.
The PE player, with $80 billion assets under management, is
in talks with promoters for at least 20 per cent stake in DHFL, ET Now
reported.
Lone Star is willing to acquire the stake of Wadhawan Global,
which holds 39.21 per cent stake in the company and is said to be open to pick
stake at a minor premium to the current market price, the report further added.
Comments
Post a Comment