Company news

| Updated on July 25, 2014

Dewan Housing Finance Corp Ltd has sought approval from shareholders to raise funds through an issue of non-convertible debentures. The non-banking finance company has informed the exchanges that it plans to raise up to ₹15,500 crore through secured non-convertible debentures, ₹500 crore via unsecured non-convertible debentures, and ₹300 crore through perpetual non-convertible debentures. Last month, CARE had upgraded Dewan Housing Finance Corp’s long-term credit rating to AAA from AA+, indicating the highest degree of safety for timely servicing of financial obligations. Shares of the NBFC tumbled 2.4 per cent to ₹360.50 on the NSE.

Thirthankar Infra Ltd has inked a joint venture agreement with Sahu Minerals & Properties Ltd for development of land adjacent to Taj Bangal in Kolkata into residential tenements and commercial spaces. The estimated size of realisations from the project would be around ₹500 crore, the company said in a statement to the BSE. Shares of Thirthankar Infra closed flat at ₹35.75 on the BSE.

UTI Mutual Fund has modified the management of one of its sectoral equity funds. From Friday, Kaushik Basu and Sachin Trivedi will manage UTI Energy Fund. They will be replacing Anoop Bhaskar, who was earlier the fund manager of the scheme. All other features of the scheme remain unchanged.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 25, 2014
This article is closed for comments.
Please Email the Editor