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Last Updated : Jun 28, 2019 10:37 AM IST | Source: Moneycontrol.com

DLF gains 2% on infusion of Rs 2,250 cr by promoters

The new infusion came through two holding entities including Rajdhani Investments & Agencies and DLF Urva Real Estate Developers & Services which has taken the promoters’ collective stake to 74.95 percent in the company.

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Shares of real estate major DLF gained as much as 2 percent intraday on June 28 after its promoters infused Rs 2,250 crore in the company against the issuance of new equity shares.

The scrip has added as much as 6 percent in the last three days.

The new infusion came through two holding entities including Rajdhani Investments & Agencies and DLF Urva Real Estate Developers & Services which has taken the promoters’ collective stake to 74.95 percent in the company.

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DLFThe DLF board has now allotted 138.1 million equity shares at Rs 217.25 each against the convertible debentures. Earlier in May, the board had issued 130 million shares at the same rate. The promoters will now have 268.1 million new equity shares in their possession since March 31 with the current infusion.

On May 28, 2019, the company transferred a three-acre land worth Rs 330 crore in Gurugram to its joint venture with Singapore sovereign wealth fund GIC and is in the process to hand over a Noida shopping mall to settle dues.

DLF owed Rs 8,700 crore to DLF Cyber City Developers Ltd (DCCDL) as on December 31, 2018.

At 1012 hrs, DLF was quoting at Rs 188.50, up Rs 3, or 1.62 percent. It touched an intraday high of Rs 189 and an intraday low of Rs 185.

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First Published on Jun 28, 2019 10:37 am
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