{"id":123354,"date":"2019-06-18T00:20:22","date_gmt":"2019-06-18T00:20:22","guid":{"rendered":"https:\/\/www.bnreport.com\/hdfc-mf-takes-essel-groups-exposures-on-its-books-to-inject-rs-500-crore-to-repay-investors\/"},"modified":"2019-06-18T00:20:22","modified_gmt":"2019-06-18T00:20:22","slug":"hdfc-mf-takes-essel-groups-exposures-on-its-books-to-inject-rs-500-crore-to-repay-investors","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/hdfc-mf-takes-essel-groups-exposures-on-its-books-to-inject-rs-500-crore-to-repay-investors\/","title":{"rendered":"HDFC MF takes Essel groups exposures on its books; to inject Rs 500 crore to repay investors"},"content":{"rendered":"

Mumbai: HDFC Asset Management<\/a> has decided to provide a liquidity arrangement of up to Rs 500 crore to certain fixed maturity plans (FMPs) of the fund house to deal with the illiquidity faced by such schemes due to their exposure to non-convertible debentures<\/a> (NCDs) issued by Essel group<\/a> entities.<\/p>\n

In a late evening release, the company said provisions of such liquidity arrangement will entail acquisition by the company of NCDs issued by the Essel Group companies held by such FMP schemes<\/a> at the prevailing valuation as on respective maturity\/purchase dates.<\/p>\n

\u201cThe liquidity arrangement may involve an aggregate outlay not exceeding Rs 500 crore and will be put in place shortly,\u201d the company said in a release.<\/p>\n

Such liquidity provision will be to FMPs having exposure to NCDs issued by Edisons Infrapower & Multiventures and Sprit Infrapower & Multiventures, and will apply only to those schemes that have either already matured in the month of April and\/ or will mature till the standstill arrangement entered into by the company with Essel Group companies is in force.<\/p>\n

The AMC will acquire such NCDs help by the FMP schemes at the prevailing valuation as on respective maturity\/purchase dates.<\/p>\n

\u201cProvision of this liquidity arrangement is without prejudice to the validity of the company's action of entering into the above mentioRead More \u2013 Source<\/strong><\/a>
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ET Markets<\/a><\/h5>\n

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Mumbai: HDFC Asset Management has decided to provide a liqui..<\/p>\n","protected":false},"author":1,"featured_media":123355,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-123354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nHDFC MF takes Essel groups exposures on its books; to inject Rs 500 crore to repay investors - Business News Report<\/title>\n<meta name=\"description\" content=\"Mumbai: HDFC Asset Management has decided to provide a liqui..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/hdfc-mf-takes-essel-groups-exposures-on-its-books-to-inject-rs-500-crore-to-repay-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HDFC MF takes Essel groups exposures on its books; 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