DLF to launch QIP for raising funds when market conditions conducive
Realty major DLF Wednesday said it would sell shares to institutional investors to raise about Rs 3,000 crore when market conditions are conducive, a senior company official said. The company plans to issue up to 17.3 crore shares through qualified institutional placement (QIP) to raise funds, as part of its objective to become a debt-free company. Its current debt stood at Rs 7,224 crore till December 2018. Sources had earlier said that the company plans to raise Rs3,000-4,000 crore through QIP. DLF will launch the QIP at an opportune time, its whole-time director and group chief financial officer Ashok Tyagi told analysts.
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