Will DHFL Shares Be Delisted After Being Acquired by the Piramal Group?

DFHL stock latest news
by Nikita Bhoota 21/06/2021

Since 18 May, the shares of DHFL, which is undergoing insolvency proceedings at the National Company Law Tribunal (NCLT), have been rising consistently.  In June alone, the stock rose 27% after rallying 17% in May.  However, the rally faded away, with the stock hitting the lower circuit in recent trades.

How is Piramal going to acquire DHFL?

Piramal Capital and Housing Finance Ltd has offered ₹37,250 crore to DHFL’s creditors, including a payment of ₹12,700 crore in cash upfront, ₹3,000 crore in interest income on DHFL’s books, and non-convertible debentures worth ₹19,550 crore to be repaid over 10 years.

What does the DHFL deal hold for Piramal? 

The acquisition is a step towards the demerger of the group’s financial services and pharmaceuticals businesses, according to market experts. On the business side, the proposed acquisition will also help Piramal Capital and Housing Finance diversify its loan book into the retail segment and improve the mix between wholesale and retail. 

DHFL shares will 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.

Investors to move SC against plan to delist DHFL shares?

A section of retail investors of Dewan Housing Finance Corp. Ltd (DHFL) plan to approach the Supreme Court against a move by the National Company Law Tribunal (NCLT) to allow delisting of the mortgage lender’s shares as part of its resolution plan.

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Disclaimer: The above report is compiled from information available on the public platforms.

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