Bengaluru: Shares of Dewan Housing Finance Corp Ltd rose as much as 7 percent on Monday, after Economic Times reported that Baring Pvt Equity, Bain Capital and Hero Fincorp are in talks to buy a stake in the debt-laden housing finance company. The stock has been under pressure since investigative media outlet Cobrapost had alleged last month that loans from Indian state banks were diverted by Dewan Housing to shell companies, including those linked to its controlling shareholders. Dewan's promoters are looking to sell a 10 percent stake through various ways, including an open offer, the Economic Times reported. Dewan Housing, Baring, Bain and Hero Fincorp did not immediately respond to Reuters' request for comment. Shares rose to 132 rupees, their highest since February 1.

Source: Mint February 18, 2019 05:26 UTC