DLF has sealed the deal with GIC to sell stake in the rental arm. In an interview to CNBC-TV18, Saurabh Chawla, Senior ED-Finance at DLF spoke at length about the deal and latest happenings in the company.
Chawla said once promoter stake is sold, problem of conflict of interest will get removed.
He also said that GIC deal is a partnership with a long-term player.
GIC is a sovereign fund and will not exit from DLF Cyber City, he added.
Will be able to deleverage balance sheet in development business, said Chawla.
"The promoters will be able to infuse an excess of Rs 10,000 crore post tax into DLF," he said.
He further said that the total money inflows will include current divestment and the qualified institutional placement (QIP).
On debt front, he said debt worth Rs 4,000 crore will be serviced by rental assets.
Watch accompanying video for more details.
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