DLF has raised Rs 3,173 crore by selling shares to institutional investors through its qualified institutional placement (QIP) offer. The company would utilise this amount mainly to prepay debt, which stood at around Rs 7,000 crore at the end of December 2018.
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.