Will DHFL shareholder get Piramal shares?

Following this reverse merger, DHFL will issue equity shares to the shareholders of PCHFL in accordance with the scheme of arrangement provided under the resolution plan, it further said, adding that once the equity shares are allotted, DHFL will become a wholly-owned subsidiary of Piramal Enterprises Ltd (PEL).

What will happen to my DHFL shares?

NSE, in a circular to its members, said DHFL equity shares will be suspended from trading with effect from June 14, 2021 (that is closing hours of trading on June 11, 2021). BSE, in a notice said that to avoid market complications,trading in the equity shares of DHFL will be suspended with effect from June 14, 2021.

Can Piramal delist DHFL?

Piramal group’s proposal to delist DHFL was accepted by DHFL’s creditors in January. On 14 June, shares of DHFL stopped trading on the exchanges, which informed investors that the resolution plan provides for their delisting. DHFL ended its trading session at ₹16.70 on the day after having hit the 10\% lower circuit.

Why did Piramal acquire DHFL?

The acquisition of DHFL will enable Piramal to grow its retail book approximately 5 times and will also lead to diversification of the overall loan book, thereby achieving the desired mix of nearly 50:50 retail wholesale mix.

Will Dhfl be listed again?

DHFL’s shares would be delisted from stock exchanges after the resolution process winds down, sources said. This delisting will be as per India’s insolvency rules and Sebi’s norms.

What happens to shareholders when a company is delisted?

When a company is delisted, its shares are no longer eligible for trading on the stock exchange. As a shareholder and if you continue to hold on to the shares post-delisting, you will continue to have legal and beneficial ownership and rights over the shares that you hold in the company.

Why are DHFL shares suspended?

The circular issued by BSE said, “to avoid market complications, trading in the securities of Dewan Housing Finance Corporation Limited will be suspended w.e.f June 14, 2021”. DHFL was the first finance company to be referred to the NCLT by RBI using special powers under Section 227 of the IBC.

Is it safe to buy DHFL shares?

Analysts suggest investors to stay away from DHFL stock, as it may be written down to zero soon. Yesterday, DHFL said in an exchange filing that the Mumbai bench of the National Company Law Tribunal (NCLT) approved Piramal Capital & Housing Finance Ltd’s insolvency resolution plan with certain conditions.

Who is the owner of Dhfl?

Piramal Group
Piramal Capital & Housing Finance Limited
Dewan Housing Finance Corporation/Parent organizations

What is the full form of Dhfl?

Piramal Capital and Housing Finance Limited (earlier Dewan Housing Finance Corporation Ltd. (DHFL)) is a non-deposit taking housing finance company, headquartered in Mumbai with branches in major cities across India.

How will Piramal Group take over DHFL?

Now, the Piramal Group will require to take permission of National Company Law Tribunal (NCLT) to take over the DHFL. Apart from the Piramal Group, another major contender for the debt-ridden NBFC was US-based Oaktree Capital.

Will DHFL shares be delisted from stock exchanges post acquisition?

Dewan Housing Finance Corporation (DHFL) on Tuesday said that the company’s equity shares will be delisted from the stock exchanges post acquisition by Piramal Capital and Housing Finance. “As part of the Resolution Plan, the equity shares of the Company are proposed to be delisted,” DHFL said in an exchange filing.

What is Dewan Housing Finance Corporation Ltd takeover by Piramal Group?

The Reserve Bank of India has approved the takeover of Dewan Housing Finance Corporation Ltd (DHFL) by Piramal Group on February 18, 2021. What is the issue? The decision was taken by RBI after a month a Committee of Creditors of DHFL voted in favor of Piramal’s bid.

What is the maximum daily limit of dhdhfl shares?

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