DHFL stock rises 5% to hit upper circuit as over two dozens entities interested in takeover

Shares of Dewan Housing Finance Corporation Ltd on Tuesday shot up 5 percent to hit upper price band after more than two dozen entities put in bids to takeover the debt-laden firm

Press Trust of India February 18, 2020 12:13:49 IST
DHFL stock rises 5% to hit upper circuit as over two dozens entities interested in takeover
  • Adani Group, KKR, Bain Capital, Kotak Mahindra Bank and Piramal Enterprises are among the more than two dozen entities that have put in bids for crippled DHFL, the first financial services player undergoing insolvency process

  • Out of the interested entities, at least 14 are keen to take over the whole operations of the mortgage lender

  • Its shares hit the upper price band on both the stock exchanges

New Delhi: Shares of Dewan Housing Finance Corporation Ltd on Tuesday shot up 5 percent to hit upper price band after more than two dozen entities put in bids to takeover the debt-laden firm.

The stock zoomed 4.97 percent to Rs 10.34 apiece on the BSE.

On the NSE, the stock rose 4.59 percent to Rs 10.25 a unit.

Its shares hit the upper price band on both the stock exchanges.

Adani Group, KKR, Bain Capital, Kotak Mahindra Bank and Piramal Enterprises are among the more than two dozen entities that have put in bids for crippled DHFL, the first financial services player undergoing insolvency process, according to two sources.

The sources told PTI that out of the interested entities, at least 14 are keen to take over the whole operations of the mortgage lender.

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