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DHFL jumps 7% after it pays interest of Rs 961 crore on NCDs

Mumbai

Shares of Dewan Housing Finance Corporation rallied 6.6 percent intraday on June 12 after the company paid Rs 961 crore interest on non-convertible debentures (NCDs).

The stock was quoting at Rs 94.10, up Rs 4.15, or 4.61 percent on the BSE at 1140 hours IST.

“Company has made full payment towards interest payable on secured redeemable NCDs issued by way of public issue within the cure period of seven working days. The company has made interest payments in lieu of Rs 961 crore as committed to its debenture holders,” the housing finance firm said in its BSE filing.

DHFL further said it reaffirms that it is committed to meeting all future debt servicing obligations in a timely manner, through further asset monetisation plans as well as onboarding of a strategic partner for its business.

Recently, the company completed its stake sale in Aadhar Housing Finance to an entity backed by Blackstone Group LP.

Last week domestic rating agencies ICRA and Crisil downgraded the company’s rating on Rs 850 crore worth of commercial paper to ‘default’, down from ‘A4’ due to the mortgage lender’s deteriorating liquidity condition. The rating of the company, which defaulted on a debt repayment earlier this week, has been removed from watch with negative implications by both the rating agencies.

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