<article>India’s second largest home finance company in the private sector, Dewan Housing Finance Corp. Ltd (<a style="color: #000080;" href="http://www.dhfl.com/" target="_blank">DHFL</a>) is in talks with investors in Singapore and Hong Kong to raise up to $100 million through stake sale, a top company executive told <a style="color: #000080;" href="http://www.dealstreetasia.com" target="_blank">DEALSTREETASIA</a>.</article>

India’s second largest home finance company in the private sector, Dewan Housing Finance Corp. Ltd (<a style="color: #000080;" href="http://www.dhfl.com/" target="_blank">DHFL</a>) is in talks with investors in Singapore and Hong Kong to raise up to $100 million through stake sale, a top company executive told <a style="color: #000080;" href="http://www.dealstreetasia.com" target="_blank">DEALSTREETASIA</a>.
“In DHFL,  we are looking to raise about $90-$100 million. It depends on the kind of appetite we see from investors. The intent is to raise it before 31 March, 2015.  Currently about 40 per cent is held by us and 60 per cent is held by the public, including 20 per cent with the FII (foreign institutional investors) community. It will be very difficult to say what the dilution will be from our side – it depends on the pricing,” its chairman and managing director Kapil Wadhawan said.
Wadhawan, who was in Hong Kong and Singapore last week, meeting potential investors for the deal, did not disclose further details.
DHFL,had disbursed Rs 15,000 crore loan in 2013-14 and is expected to give Rs 20,000 crore loan this fiscal. The company, which had recently applied for a small banking licence in India, has been outperforming the market so far in calendar 2015 – its scrip had also outperformed the market in past one quarter, rising 29.43 per cent as against Sensex&#8217;s 6.72 per cent rise.
Wadhawan also added that the company was looking for ‘long-only investors to come and participate in its latest round’. “Value accretion for investors will happen over a period of time – Yes, we would not like to be categorised as a speculative stock for practical reasons. We are a long term story and we have been in this business for 30 years  and housing finance is a sector that is being looked at very very closely by the larger investor community.”
Responding to a query on the company’s market performance, Wadhawan said: “Compared to peers, we still continue to hold tremendous value promise for the investors. Whilst the market recognises the story, we believe that we still have some distance to cover when it comes to being valued right. We believe there is a lot of hidden value that has not got reflected in where we are as a company.”
On Tuesday, at 11.50 (India time) DHFL was trading at Rs 482.9, up 3.8 per cent , compared to the previous day’s close.

India’s second largest home finance company in the private sector, Dewan Housing (DHFL) is in talks with investors in Singapore and HK to raise up to $100m

Exclusive: DHFL to raise $100m via stake sale

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Exclusive: DHFL to raise $100m via stake sale

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