Dewan Housing Finance Corporation Ltd has informed that the Board of Directors of the Company at its meeting held on February 06, 2008 has considered and approved theproposal to enhance the Investment in the equity stake by subscribing to 3,00,00,000 equity shares of Rs 10/- each for cash at par upto to an amount of Rs 30 crore (including an amount of Rs 4.98 crore already invested) in one or more tranches, in M/s. Wadhawan Food-Retail Pvt. Ltd., (WFRPL) an entity belonging to the promoter group, which operates convenience retails stores under the Brand Name of SPINACH and have under its control 123 number of stores operating in the Country. After the said proposed investment DHFL shall hold upto 19.90% of the enhanced paid up capital of WFRPL.
The aforesaid investment shall be subject to the overall limit as set out in the Companies Act, 1956 and rules and regulations as framed by NHB/RBI or any other regulatory guidelines prevailing or applicable thereto.
The aforesaid investment shall be subject to the overall limit as set out in the Companies Act, 1956 and rules and regulations as framed by NHB/RBI or any other regulatory guidelines prevailing or applicable thereto.
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