Caledonia sells 3 % stake in Dewan Housing for Rs 114 cr

Written By Unknown on Sabtu, 24 Mei 2014 | 23.25

As on quarter-ended March 2014, Caledonia Investments held 1.28 crore shares of Dewan Housing Finance amounting to 9.98 percent stake in the company.

UK-based Caledonia Investments today offloaded nearly 3 percent of its stake in mortage lender  Dewan Housing Finance Corporation Ltd for an estimated Rs 114 crore through the open market route.

The investment trust sold 38 lakh shares (representing about 3 percent stake) of the mortgage lender at average price of Rs 300 apiece, as per bulk deal details with the BSE. In a separate transaction, foreign fund house Morgan Stanley Asia Singapore acquired 37.78 lakh shares of Dewan Housing Finance in a transaction worth Rs 113.35 crore.

As on quarter-ended March 2014, Caledonia Investments held 1.28 crore shares of Dewan Housing Finance amounting to 9.98 percent stake in the company. For the same period, Morgan Stanley Asia Singapore held 15.11 lakh shares of the mortage lender representing a shareholding of 1.18 percent.

Dewan Housing Finance was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India. Shares of Dewan Housing today rose 3.94 percent to settle the day at Rs 334.75 apiece on the BSE.

Dewan Housing stock price

On May 23, 2014, Dewan Housing Finance Corporation closed at Rs 334.75, up Rs 12.70, or 3.94 percent. The 52-week high of the share was Rs 343.85 and the 52-week low was Rs 101.50.


The company's trailing 12-month (TTM) EPS was at Rs 41.17 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 8.13. The latest book value of the company is Rs 293.12 per share. At current value, the price-to-book value of the company is 1.14.


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