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DLF gains on entering into strategic partnership with GIC

28 Aug 2017 Evaluate

DLF is currently trading at Rs. 189.00, up by 2.45 points or 1.31% from its previous closing of Rs. 186.55 on the BSE.

The scrip opened at Rs. 190.35 and has touched a high and low of Rs. 192.45 and Rs. 188.00 respectively. So far 63,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 215.80 on 17-May-2017 and a 52 week low of Rs. 101.05 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 198.00 and Rs. 153.10 respectively. The current market cap of the company is Rs. 33,718.00 crore.

The promoters holding in the company stood at 74.95%, while Institutions and Non-Institutions held 18.31% and 6.74% respectively.

DLF has entered into a strategic partnership with GIC, Singapore’s sovereign wealth fund, to develop a rental assets portfolio, under the consolidated portfolio of DLF Cyber City Developers (DCCDL), a subsidiary of DLF. The partnership enables sustainable, long-term growth of DCCDL’s rental business and creates an optimum structure for its rental business to improve efficiency, with long-term capital for growth of the portfolio.

The transaction envisages an enterprise value of Rs 35,617 crore (approximately $5.6 billion) for DCCDL. Post completion of series of steps as contemplated in the transaction, DLF shall hold 66.66% equity shares (up from 60% diluted equity earlier) and an affiliate of GIC shall hold 33.34% equity shares in DCCDL.

The gross proceeds to the sellers from the transaction would be Rs 11,900 crore (approximately $1.9 billion), which comprises secondary sale of equity shares (post-conversion of Compulsory Convertible Preference Shares - CCPS) to GIC for approximately Rs 8,900 crore (approximately $1.4 billion), and two buybacks of CCPS for Rs 3,000 crore (approximately $0.5 billion) by DCCDL – out of which one shall be done before the closing and the second will be done 12 months thereafter.

DLF is one of India's biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.


DLF Share Price

609.00 13.15 (2.21%)
21-Apr-2026 16:01 View Price Chart
Peers
Company Name CMP
Lodha Developers 875.10
Dilip Buildcon 453.00
DLF 609.00
Oberoi Realty 1721.90
Ahluwalia Contract(I 865.60
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