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.
