Indiabulls Housing Finance informs about updates

10 Oct 2019 Evaluate

Indiabulls Housing Finance has informed that RBI vide letter dated October 9, 2019 has informed that the application for voluntary amalgamation of the Company with Lakshmi Vilas Bank cant be allowed. Now that the merger will not happen with Lakshmi Vilas bank, the uncertainty of last 5 months on the business is lifted and the Company will focus on its growth of the core business of housing finance. From its core business, the Company has paid a total of Rs 10,530 crores ($ 1.5 billion) in dividends translating to total dividends of Rs 271 per share on a Rs 2 paid up share to its shareholders in the last 10 years. The Company will continue with its policy of quarterly dividends going forward. The Company has strong networth of approx Rs 19,000 crores ($2.7 billion) and healthy liquidity and cash balances of over Rs 18,000 crores ($2.5 billion) as on date.

The above information is a part of company’s filings submitted to BSE.

Sammaan Capital Share Price

149.90 0.40 (0.27%)
24-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
LIC Housing Finance 584.90
Housing & Urban Dev. 232.35
Bajaj Housing Financ 126.95
Sammaan Capital 149.90
PNB Housing Finance 846.65
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.