Realty firm DLF plans to raise up to Rs 395 crore through issue of debentures. In a regulatory filing, the company informed that the proposal will be discussed on March 3 at a meeting of the finance committee of the board of directors.
DLF did not disclose where the proceeds from the bond sale will be deployed. "The company is desirous of offering listed redeemable secured non-convertible debentures aggregating up to Rs 395 crore in one or more tranches… and in this regard, a meeting of the finance committee of the board of directors is scheduled to he held on March 3 to consider the said proposal," DLF said.
The company, which is the largest real estate developer in market capitalisation, is constructing many housing and commercial projects across the country.DLF has a portfolio of around 35 million sq ft of commercial properties. It earns a rental income of around Rs 3,500 crore annually.