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Dewan Housing

Bronze Member

252 Messages

Looks like 25% of NCD principal will be converted to CCPS. 15% will have moratorium for 1 year without interest payment. 60% will work fine. CCPS will be paid without interest over next 15 years. Banks are unhappy on CCPS, thinks potential write off and burgaing with DHFL. DHFL asking credit line of 1500 crore from NHB and Bank. 25000 crore of CCPS will dilute book value of stock to below 10 rupee from present 250 rupee. If you consider time value of loss of interest of ccps, NCD s are correctly trading at 68% discount to face value. If the company survives we bond holders will get 60% of projected return value. Equity value will drop to 25 30 range with price to book 3:1, though if company survives it will give high reward if one can buy equity at 20 25 range

11.23 PM Aug 15th
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