The Employees’ Provident Fund Organisation (EPFO) has found out details of its cash-generation plans from Dewan Housing Finance Ltd (DHFL), as the retirement fund manager has sought to redeem half its investment in the home financier’s bonds before maturity.
The company’s management met members of the EPFO’s Central Board of Trustees last week in New Delhi, briefing the country’s largest institutional debt investor about its asset monetization plans and promising to make structured repayments in a timely manner. The retirement body is expecting the money to arrive this week.
A member of the Central Board of Trustees, Prabhakar Banasure told, “we have asked for partial redemption of DHFL bonds … as the company senior management met us last week. The company is expected to honor it this week. At EPFO we are optimistic about the company’s monetization plans.”
State-managed EPFO had invested about Rs 1,300 crore in DHFL bonds about five years ago through private deals.
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