DLF in talks with PE firms to raise Rs 20 bn
DLF in talks with PE firms to raise Rs 20 bn
India`s largest real estate company DLF may raise Rs 20 billion by way of private equity placement, reports Economic Times.
The company is said to be in talks with private equity funds like Carlyle, Merrill Lynch, JP Morgan and Crown Capital.
The deal is expected to be announced by the end of this month. DLF may deploy the capital for its mega township project in Bangalore.
This project will be developed by the company with an investment of Rs 600 billion in a 50:50 joint venture with the Dubai-based Limitless Holdings, part of the Nakheel Group.
Shares of the company closed down Rs 30.35, or 3.4%, at Rs 862.40. The total volume of shares traded at the BSE was 2,013,297. (Thursday)
