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1-min read

DHFL Shares Fall over 5 pc after Company Reports Default on Rs 1,571 Cr Bond Repayments

DHFL shares tanked 5.20 per cent to close at Rs 46.50 on the BSE. Intra-day, the stock tumbled 7.84 per cent to Rs 45.20.

PTI

Updated:August 20, 2019, 7:20 PM IST
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DHFL Shares Fall over 5 pc after Company Reports Default on Rs 1,571 Cr Bond Repayments
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New Delhi: Shares of DHFL on Tuesday fell over 5 per cent after the company said it has defaulted on financial repayment obligations of Rs 1,571 crore with regard to issuance of bonds and commercial papers.

Its shares tanked 5.20 per cent to close at Rs 46.50 on the BSE. Intra-day, the stock tumbled 7.84 per cent to Rs 45.20.

On the National Stock Exchange (NSE), the scrip dropped 5.19 per cent to close at Rs 46.50. In terms of traded volume, 23.85 lakh shares were traded on the BSE and over two crore on the NSE.

The defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers (CPs), Dewan Housing Finance Corporation Ltd (DHFL) said in a regulatory filing on Monday.

In a break-up, the non-banking financial company (NBFC) said it has defaulted on Rs 46.92 crore towards interest amount on secured NCDs (9.92 per cent and 9.40 per cent/10 year tenor); on non-convertible debentures (NCDs) issued through a public issue for multiple tenors of amount involving interest of Rs 363.77 crore and a principal amount of Rs 1,059.91 crore. Besides, defaults of Rs 100 crore occurred on CPs.

The NBFC has not been able to fulfil its obligations towards debt repayment in the recent past and there have been several cases of defaults on commercial papers and bonds.

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