New Delhi: DHFL has decided that it will make lenders a stake in the company. There is considerable debt on DHFL. Its board has allowed the company's debt to be converted into equity. This would mean that its lenders would be given a stake in the company's shares. This decision was taken at the company board meeting. The company's lenders are a party to its inter-creditor arrangement. The company has said that after negotiating with the lenders under the draft resolution plan, the board has approved the decision to convert the debt into equity.
With this, the company has also increased share capital. Now it will increase from Rs 828 crore to Rs 1,090.39 crore. The Board has also approved the Additional Credit Facility, so that the second debt can be settled with the earlier debt. DHFL has stated that the board is committed to the resolution plan of its lenders.
The company is currently burdened with a debt of Rs 90,000 crore. Company promoter Kapil Wadhavan and promoter group Wadhavan Global Capital have taken several steps to repay the debt. For this, from the sale of assets of the company to the securitization of the retail assets have also been done, so that liquidity can be increased. After this decision of the company, there has been confidence in investors.
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