Dewan Housing Finance Corporation Limited (DHFL) shares will stop trading on bourses from Monday (June 14, 2021). In a circular dated June 11, the National Stock Exchange informed on the same mentioning that Dewan Housing Finance Corporation vide its announcement dated June 8, 2021 informed the Exchange regarding the approval of the resolution plan by the National Company Law Tribunal (NCLT), Mumbai bench which provides for delisting of equity shares of the company.
The exchange further stated that the scrip of DHFL will be suspended from trading w.e.f June 14, 2021 (i.e closing hour of trading on June 11, 2021).
The circular added that, further, the Company vide announcement dated June 9 stated that no value was attributable to the equity shares as per the liquidation value of the company estimated by registered valuers appointed under the Insolvency and Bankruptcy Board of Indi (Insolvency Resolution Process for Corporate Persons) Regulations 2016.
Additionally the company also stated that the written order of the NCLT approving the Resolution Plan is still awaited and all disclosures made remain subject to such orders.
Notably, NCLT on Monday gave its go-ahead to the resolution plan proposed by the Piramal Group, subject to some conditions. Interestingly, Piramal Capital and Housing Finance topped the bidding process for the bankrupt housing financier.
On Friday, the scrip of DHFL hit a lower circuit limit of Rs. 16.7 per share on the NSE.