DLF plans to launch Rs 3,000 crore through QIP
Realty major DLF plans to raise an estimated Rs 3,000 crore through the sale of equity shares to qualified institutional investors. Aiming to become a debt-free company, DLF had last year announced plans to issue up to 17.3 crore shares through (QIP) to raise funds and pre-pay loans. "We are looking to complete QIP by June this year," DLF group CFO Ashok Tyagi told PTI in an interview. The QIP proceeds and further infusion of Rs 2,500 crore from promoters against issue of warrants would help company in significantly reducing debt that stood at around Rs 7,200 crore as on December 31, 2018, he said.
Tags : News/Views