Get Annual plan at only Rs 289. The board approved increase in the authorized share capital of the company.
Shares of Dewan Housing Finance Corporation (DHFL) rose 3.5 percent intraday on September 3 after the company approved to convert whole or part of the debt into equity.
The company board in its meeting held on August 30 approved the conversion of whole or part of the debt into equity shares or other securities of the company, which may result in a change in ownership of the firm.
The board approved increase in the authorized share capital of the company from Rs 828 crore to Rs 1090 crore by amendment to the memorandum of association / articles of association of the company.
It also approved the additional credit facilities to be availed by the company based on the existing borrowing limits available with the company and disposal of whole or part of the undertakings and/or assets of the company.
