DHFL Building in Mumbai. (Source: BloombergQuint)

DHFL Shares Fall Amid Reports Of Lookout Notice Against Promoters

Shares of Dewan Housing Finance Corporation Ltd. fell nearly 4 percent on
Tuesday, amid reports of a lookout notice against the company’s promoters over shell companies.

The stock declined 3.57 percent to close at Rs 114.80 on the Bombay Stock Exchange. During the day, it dropped 6.88 percent to Rs 110.85. On the National Stock Exchange, shares fell 3.65 percent to close at Rs 114.80 apiece.

BSE had sought clarification from DHFL on May 28 with reference to news over lookout notice against promoters over shell companies. Later, Dewan Housing in a clarification to the BSE said, “Please note that the company and/or its promoter-directors have not received any communication from the authorities regarding issuance of any lookout notice.”

The filing added that there is no other price-sensitive information under Regulation 30 of the Securities and Exchange Board of India listing regulations which could have bearing on the share price of the company.

“The company is currently focused in getting a strategic partner, fulfilling all its obligations on time and in building strategy for the company's back-to-business growth,” it said. “As reiterated in the past, we deny all allegations of existence of any alleged shell companies. We have fully co-operated with all authorities and we have not received any communication from any authorities in support of any of these allegations.”

Also read: Will DHFL’s Troubles Reduce Interest In Fixed Deposit Schemes Of Non-Bank Lenders?