In early trade on Wednesday, shares of Dewan Housing Finance Corporation (DHFL) passed nearly 9 per cent after it defaulted on Commercial Papers (CP) repayment.
“Out of the aggregate amount of Rs 375 crore, 40 per cent has been paid on a proportionate basis, and the balance amount of Rs 225 crore shall be paid in the next couple of days,” DHFL said in a statement late Tuesday.
On Tuesday, DHFL could pay only 40 per cent of its commitment of 375 crores towards commercial papers while the company said that the balance will be paid in the next couple of days.
However, earlier DHFL failed to meet the payment obligations this month, just before the Eid; where the company failed to pay due interest on bonds which were sold last year. However, it later paid the money within the grace period to avoid the ‘default’ tag.
Read EquityPandit’s Nifty Outlook for the Week