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    DHFL shares gained nearly 10% on stake sale report

    DHFL shares gained nearly 10% on stake sale report

    DHFL shares gained nearly 10% on stake sale report
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    By CNBC-TV18  IST (Updated)

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    Shares of Dewan Housing Finance Ltd (DHFL) jumped as much as 7.3 percent in early morning trade on report the company is in talks to sell a 10 percent stake to Baring India, Bain Capital and Hero Fincorp to raise funds.

    Shares of Dewan Housing Finance Ltd (DHFL) jumped as much as 9.94 percent towards the noon trade on report the company is in talks to sell a 10 percent stake to Baring India, Bain Capital and Hero Fincorp to raise funds.
    However, the company said it is yet to take a decision on bringing in strategic investors.  It clarified that talks about the matter has not taken place as yet
    The stock closed with a 4.43 percent at Rs 128.60 a piece on the Bombay Stock Exchange.
    As per The Economic Times report, DHFL chairman and MD Kapil Wadhawan, who has also taken an additional charge of CEO, will step down once the stake sale is completed.
    The non-banking financial company had earlier sold nearly 80 percent of its stake in Aadhar Housing Finance to Blackstone Group in order to ease the liquidity crunch.
    DHFL shares have been under pressure after an investigative news portal Cobrapost alleged financial irregularities to the tune of Rs 31,000 crore by DHFL promoters. DHFL has refuted the claims.
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