Dewan Housing Finance to raise Rs 105 Crore

Dewan Housing Finance Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on March 06, 2009, inter alia, has considered and approved the proposal to raise funds not exceeding Rs 105,00,00,000/- (Rupees One Hundred Five Crore Only) by the issue of equity shares to the members of the Company whose names appear in the Register of Members of the Company as on the record date with an option to renounce, subject to the approval of the members of the Company.

The Board approved re-pricing of Options granted under ESOP Scheme on the basis of the recommendation made by the Remuneration & Compensation Committee held on March 06, 2009, subject to the approval of the members of the Company.

The Board approved Notice convening an Extra-Ordinary General Meeting of the Company.

The Board approved convening an Extra-Ordinary General Meeting of the shareholders on March 31, 2009.

The stock closed the day at Rs.49.95, up by Rs.2.75 or 5.83%. The stock hit an intraday high of Rs.52 and low of Rs.45.10.

The total traded quantity was 128209 compared to 2 week average of 34509.

Source : Equity Bulls

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