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DLF’s promoters to cut CCPS coupon rate: Report

18 Mar 2015 Evaluate

DLF, one of the largest real estate companies in India, is likely to save about Rs 175 crore annually after promoters decided to slash CCPS coupon rate on securities held by them in the company's subsidiary from 9% to 0.01%. In 2009, the company had announced merger of its subsidiary DLF Cyber City Developers with promoter firm Caraf Builders & Constructions, the holding company of DLF Assets.

DLF Cyber City Developers had then issued compulsorily convertible preference shares worth Rs 1,597 crore to DLF promoters. Post-conversion of compulsorily convertible preference shares into ordinary shares, promoters would have 40 per cent stake in DLF Cyber City Developers, which holds bulk of the company's commercial assets. The deadline to convert this conversion of the compulsorily convertible preference shares into shares was March 19 this year, but the same could not be executed in view of SEBI's order in October 2014 banning DLF and six executives from capital market for the next three years.

DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation.

DLF Share Price

607.70 11.85 (1.99%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 875.75
Dilip Buildcon 450.60
DLF 607.70
Oberoi Realty 1724.10
Ahluwalia Contract(I 866.35
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