DLF in talks with GIC to sell 40% stake in Cyber City

DLF, one of India's largest realty developer, is in talks with GIC for a 40 percent stake sale in its rental commercial property arm, DLF Cyber City.CNBC-TV18 learns from sources that the meeting of DLF's audit committee is scheduled to take place today and the board is likely to submit a detailed plan on the execution of the stake sale.Sources also suggest the company is in talks with GIC exclusively and may announce the stake sale soon.The stake sale is expected to rope in Rs 14,000 crore into the debt-burdened company.