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DHFL repays Rs 45 crore in debt; completes stake sale in Aadhar Housing

Abhijit Lele and Agencies/Mumbai 10 Jun 19 | 10:18 PM

Dewan Housing Finance Ltd (DHFL) has paid about Rs 45 crore in interest and principal on certain debt instruments due on Monday.

DHFL paid Rs 10 crore in interest on four non-convertible debentures (NCD) and principal of Rs 35 crore on one of them. DHFL share closed seven per cent higher at Rs 89.5 per share on BSE.

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DHFL also completed sale its 9.15 per cent stake in Adhar Housing Finance Ltd to entity controlled by private equity group Blackstone. The value of DHFL stake in Ahdhar is in excess of Rs 200 crore. DHFL will use proceeds from sale of stake in Adhar Housing Finance to repay dues on debt instruments.

Wadhawan Global Capital Limited and other sellers   including Kapil Wadhawan, and Dheeraj Wadhawan all forming part of Promoter & Promoter Group of DHFL have completely exited Aadhar with effect from today.

Two major credit ratings agencies - ICRA, an affiliate of Moody's, and Standard & Poor's local unit Crisil - last week categorised DHFL’s commercial paper at default levels for missing bond payments.

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