MoneyWorks4Me

DLF selects 8 banks to sell up to 8.1 crore shares

07 May 2013 Evaluate

DLF, country’s largest real estate developer, is planning to sell up to 8.1 crore shares and has mandated 8 banks for the institutional placement sale. Further the price range and size of the issue are yet to be determined. The selected banks are Bank of America-Merrill Lynch, Deutsche Bank, JPMorgan and Standard Chartered, along with CLSA, HSBC, Kotak, and UBS to handle the sale.

DLF, founded by billionaire Kushal Pal Singh, has a land bank of 10,255 acres, the biggest in the real estate sector. At its peak, its debt pile stood at Rs 23,000 crore.

Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.70
DLF 653.90
Oberoi Realty 1734.10
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