Is DHFL good for investment?
Is DHFL good for investment?
Analysts suggest investors to stay away from DHFL stock, as it may be written down to zero soon. Also, investors who currently hold DHFL shares are advised to exit and book whatever their profit or loss.
Is DHFL safe?
As a result, the bank loans to DHFL are secured. This is in contrast with public deposits as the public or any such institution gives the money to a bank or an NBFC without asking for collateral. According to the Insolvency and Bankruptcy Code (IBC), secured creditors are the highest priority to recover their dues.
What is wrong with Dewan Housing?
The reasons cited by the banking regulator for the dismissal of the DHFL board of directors were: inadequate governance and the various defaults on its payment obligations. On 27 January 2020, the promoter of DHFL, Kapil Wadhawan was arrested under the Prevention of Money Laundering Act (PMLA).
Who is owner of DHFL?
Piramal Group
Piramal Capital & Housing Finance Limited
Dewan Housing Finance Corporation/Parent organizations
What is the future of DHFL shareholders?
Following this reverse merger, DHFL will issue equity shares to the shareholders of PCHFL in accordance with the scheme of arrangement provided under the resolution plan, it further said, adding that once the equity shares are allotted, DHFL will become a wholly-owned subsidiary of Piramal Enterprises Ltd (PEL).
Is DHFL going to be delisted?
From 14th June 2021, the investors are not able to trade in DHFL’s shares on BSE & NSE. The Bombay Stock Exchange & National Stock Exchange suspended trading of DHFL Shares.
Why DHFL shares are falling?
“Equity shares of DHFL are likely to be extinguished as part of acquisition of the company due to NCLT’s insolvency process. The Piramal Group’s offer includes ₹12,700 crore in upfront cash, ₹3,000 crore in interest income on DHFL’s books and ₹19,550 crore worth of non-convertible debentures to be repaid over 10 years.
Can DHFL revive?
MUMBAI: The Reserve Bank of India (RBI) has approved the resolution plan, submitted by the Piramal Group to revive an indebted Dewan Housing Finance (DHFL), said two people involved in the resolution process. Piramal’s bid received about 94 percent of votes of the creditors, followed by Oaktree at 45 percent.
Will DHFL get delisted?
What will happen to DHFL shareholders?
Upon allotment of equity shares to PEL, DHFL will become a wholly-owned subsidiary of PEL, it said, adding, Piramal Enterprises Limited will acquire 100 per cent of the equity share capital in DHFL. “The acquisition is in line with a strategic roadmap to transform and expand Group’s financial services business.
Is Piramal taking over DHFL?
Agencies Piramal Group acquires DHFL for Rs 34,250 crore. Piramal has completed the acquisition of DHFL for Rs 34,250 crore which includes a cash component and non-convertible debentures.
Is DHFL registered with RBI?
The Reserve Bank of India (RBI) has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings.
Why has the rating of DHFL been down?
The rating has been removed from ‘Rating Watch with Negative Implications’. The downgrade reflects delays in debt servicing by DHFL on some of its non-convertible debentures (NCDs) – not rated by CRISIL – because of inadequate liquidity. The payments were due on June 4, 2019.
What does DHFL stand for?
CRISIL has downgraded its rating on the commercial paper (CP) of Dewan Housing Finance Corporation Limited (DHFL) to ‘CRISIL D’ from ‘CRISIL A4+’. The rating has been removed from ‘Rating Watch with Negative Implications’.
How good is DHFL’s asset quality?
However, CRISIL notes that DHFL’s reported asset quality metrics have remained healthy till date. Reported networth and capital adequacy ratio were Rs 10,750 crore and 17.74%, respectively, as on December 31, 2018 (Rs 10,401 crore and 16.19%, respectively, as on September 30, 2018). Reported gearing stood at 9.3 times.
What does DHFL’s downgrade to default category mean for the sector?
DHFL’s downgrade to the default category is the first such by a rating agency. “DHFL has Rs 850 crore of outstanding CPs of which Rs 750 crore is due in June 2019.
