DHFL makes `962 cr NCD pay­ment in nick of time

Pay­ment in­cludes Rs 500 crore re­ceived from ex­it­ing Aad­har Hous­ing

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE - — PTI

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.

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