Singapore’s sovereign wealth fund GIC has acquired 12.01 lakh shares of DLF through open market, pushing its stake in the company above 5%. Prior to this share purchase, GIC’s holding in the company stood at 4.94% and has now reached 5.01%.
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.