Dewan Housing Finance Corp Ltd (DHFL) is yet to take a decision on bringing in strategic investors, the Indian debt-laden housing finance company said on Monday after a report that it was in talks about selling stake. Shares of DHFL rose as much as 7% in early trade on Monday, after Economic Times reported that Baring Pvt Equity, Bain Capital and Hero Fincorp are in talks to buy a stake in the company. The stock has been under pressure since investigative media outlet Cobrapost had alleged last month that loans from Indian state banks were diverted by Dewan Housing to shell companies, including those linked to its controlling shareholders. Also read Opinion | Housing finance still remains an attractive business in years to comeDewan's promoters are looking to sell a 10% stake through various ways, including an open offer, the Economic Times reported. This story has been published from a wire agency feed without modifications to the text.
Source: Mint February 18, 2019 10:07 UTC