DHFL makes `962 cr NCD payment in nick of time
Payment includes Rs 500 crore received from exiting Aadhar Housing
New Delhi: Crisis-ridden DHFL said Tuesday it has paid Rs 962 crore towards interest payment on debt instruments which fell due on June 4, and met the sevenday “cure period” to pay off its obligation.
“In view of the confirmation given by the company dated June 7, 2019, we hereby confirm that the company has today made full payment towards interest payable on secured redeemable non-convertible debentures (NCDS) issued through a public issue within cure period of seven working days,” the company said in a regulatory filing.
DHFL has paid the interest towards a total of 12 debt instruments (NCDS) amounting to Rs 961.95 crore, according to the filing. This payment of Rs 962 crore is inclusive of the Rs 500 crore DHFL received from exiting its entire stake in subsidiary firm Aadhar Housing Finance Ltd (Aadhar).
Sources earlier in the day said that the NBFC would
DHFL of Aadhar Housing --Wadhawan Global Capital (WGC), DHFL, Kapil Wadhawan, Dheeraj Wadhawan and Aruna Wadhawan, who all formed part of promoter and promoter group of DHFL completely exited Aadhar at a valuation of about Rs 2,200 crore.
The sale/transfer of the entire stake held by DHFL in Aadhar to BCP Topco VII Pte Ltd, which is controlled by private equity funds managed by Blackstone. DHFL was caught in the liquidity trap post the IL&FS crisis that hit the NBFC sector late September last year.
RBI on its policy outcome also said it was closely monitoring the developments in the NBFC sector and will not hesitate to take measures to ensure financial stability.
SBI too said it has been closely monitoring its exposure to the NBFC sector for the past 10 months and taking action as required.
DHFL share closed 0.50% up at Rs 89.95 on BSE.