HDFC invokes pledge on 50 lakh shares of Ansal Housing to recover outstanding dues
HDFC invoked pledge on 50,00,000 shares of Ansal Housing Ltd which were pledged with it. The shares aggregate 8.42 per cent of its paid-up share capital.
- Dec 14, 2021,
- Updated Dec 14, 2021 5:05 PM IST
Housing Development Finance Corporation Ltd (HDFC) on Tuesday said it has invoked pledge on 50 lakh shares of Ansal Housing Ltd, aggregating 8.42 per cent of its paid-up share capital. In an exchange filing, HDFC said that in its normal course of business, it extends loans to various borrowers. "For the purpose of recovery of part outstanding dues against loans availed by certain pledgers/borrowers, the Corporation on December 13, 2021, invoked the pledge on 50,00,000 shares of Ansal Housing Limited (Ansal) aggregating 8.42 per cent of its paid-up share capital, pledged with the Corporation by the said borrower," it said. HDFC said it invoked a part of the shares pledged with it for recovery of part outstanding dues against loans availed by Ansal Housing on December 13. The acquisition is not a related party transaction for HDFC, the filing said. Ansal Housing is in the business of construction and development of residential townships and commercial complexes. The company had a turnover of Rs 139.03 crore in financial year 2020-21, Rs 116.93 crore in FY 2019-20 and Rs 148.46 crore in FY 2018-19. Its net worth stood at Rs 170.01 crore as on March 31, 2021. Shares of HDFC on Tuesday closed 2.99 per cent lower at Rs 810 on the BSE, while that of Ansal Housing closed 10 per cent higher at Rs 12.65.
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Housing Development Finance Corporation Ltd (HDFC) on Tuesday said it has invoked pledge on 50 lakh shares of Ansal Housing Ltd, aggregating 8.42 per cent of its paid-up share capital. In an exchange filing, HDFC said that in its normal course of business, it extends loans to various borrowers. "For the purpose of recovery of part outstanding dues against loans availed by certain pledgers/borrowers, the Corporation on December 13, 2021, invoked the pledge on 50,00,000 shares of Ansal Housing Limited (Ansal) aggregating 8.42 per cent of its paid-up share capital, pledged with the Corporation by the said borrower," it said. HDFC said it invoked a part of the shares pledged with it for recovery of part outstanding dues against loans availed by Ansal Housing on December 13. The acquisition is not a related party transaction for HDFC, the filing said. Ansal Housing is in the business of construction and development of residential townships and commercial complexes. The company had a turnover of Rs 139.03 crore in financial year 2020-21, Rs 116.93 crore in FY 2019-20 and Rs 148.46 crore in FY 2018-19. Its net worth stood at Rs 170.01 crore as on March 31, 2021. Shares of HDFC on Tuesday closed 2.99 per cent lower at Rs 810 on the BSE, while that of Ansal Housing closed 10 per cent higher at Rs 12.65.
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