India's Dewan Housing gets approval for equity issue

Sat Jun 27, 2009 4:57pm IST

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MUMBAI, June 27 (Reuters) - India's Dewan Housing Finance Corp (DWNH.BO: Quote, Profile, Research) received approval on Saturday from its shareholders to sell equity up to 3 billion India rupees ($61.74 million) to qualified institutional buyers, the company told the stock exchanges.

In an extraordinary general meeting, shareholders also allowed the company to issue up to 10 million shares to its founders, the company notice to the exchanges said. (Reporting by Anurag Joshi)

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