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DHFL floats plan to convert part of debt into equity

Sep 30, 2019 11:00 IST

Dewan Housing Finance Limited or DHFL has floated a plan to convert part of its debt into equity, while seeking to sell assets and raise more funds. In an exchange filing on Saturday,the firm said that the company presented the Draft Resolution Plan to its investors . part of the plan involves converting 2.3% of the lenders' debt exposure of each category into equity at an assumed price of ₹54 per share. As part of the resolution plan, the lenders will also acquire 51% in the firm after the debt to equity conversion. A final decision will be taken by the end of October.

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