Dewan Housing Finance Corporation today said its shareholders have given approval to raise up to Rs 22,500 crore through issuance of securities.
The members of the company at its annual general meeting (AGM) held today have with requisite majority approved the issuance of securities on private placement basis, it said in a regulatory filing.
The shareholders approved issuing of “non-convertible secured/unsecured Debentures, up to an amount of Rs 20,000 crore, non-convertible subordinated unsecured debentures up to an amount of Rs 2,000 crore and non-convertible perpetual unsecured debentures up to an amount of Rs 500 crore.”
The company engaged into mortgage lending also reported an increase of 16 per cent in its net profit at Rs 201 crore during first quarter ended June of 2016-17.
Shares of the company today fell by 0.80 per cent to settle at Rs 217.85 apiece on the BSE.