DLF soars on the buzz of eying multiple partners for stake sale in DLF Cyber City Developers

30 Sep 2016

DLF is currently trading at Rs. 145.00, up by 4.80 points or 3.42% from its previous closing of Rs. 140.20 on the BSE.

The scrip opened at Rs. 142.00 and has touched a high and low of Rs. 145.45 and Rs. 140.20 respectively. So far 413451 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 169.60 on 19-Aug-2016 and a 52 week low of Rs. 72.50 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 159.15 and Rs. 138.30 respectively. The current market cap of the company is Rs. 25519.37 crore.

The promoters holding in the company stood at 74.95%, while institutions and non-institutions held 18.24% and 6.80% respectively.

DLF is reportedly eyeing multiple partners to divest 40% stake in its rental arm ‘DLF Cyber City Developers’ in order to get maximum valuation. The company is holding individual bilateral discussions with more than three financial institutions at the moment. The realty major had shortlisted Brookfield Asset Management, Blackstone Group and Singapore wealth fund GIC for this exercise.

The stake sale is expected to leave DLF in funds enabling it to substantially lower its debt which currently stands at Rs 22,120 crore as on June 30.

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. The company has 288 million square feet (approximately) of development potential with 45 million square feet of projects under construction.

DLF Share Price

261.85 2.60 (1.00%) May 18, 18:01
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