WAYS2CAPITAL STOCK TIPS : DHFL Gains 6% As Board Approves Stake Sale In Avanse Financial

Shares of Dewan Housing Finance Corporation (DHFL) rose 6 percent intraday Monday as the company is selling its entire stake in Avanse Financial Services.

“The special committee of the board of directors at its meeting held on March 16 considered and accorded approval to disinvest to Olive Vine Investment an affiliate of the Warburg Pincus Group, 1,92,50,719 equity shares constituting 30.63 percent of the paid up capital of Avanse Financial Services i.e. its entire shareholding held in Avanse.”

The company has entered into a share purchase agreement with the Acquirer, Avanse and the other sellers including Wadhawan Global Capital promoter entity of the company.

 The proposed transaction is subject to applicable regulatory and other approvals and certain other conditions.
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