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DLF plans to raise up to 500 cr via NCD issue

Top developers including DLF, Indiabulls Real Estate Ltd. and Lodha Developers Ltd. have been selling their rent-yielding assets or other developed projects to raise funds and pare debt. Photo: MintPremium
Top developers including DLF, Indiabulls Real Estate Ltd. and Lodha Developers Ltd. have been selling their rent-yielding assets or other developed projects to raise funds and pare debt. Photo: Mint

DLF said the board of directors approved the issuance of secured rated listed redeemable NCDs at a coupon rate of 8.25% with an aggregate principal amount of up to 500 crore on a private placement basis

NEW DELHI : Realty firm DLF plans to raise up to 500 crore through issue of non-convertible debentures (NCD) to investors.

In a regulatory filing, DLF informed that a finance committee, constituted by the board of directors, on Wednesday approved the company's proposal.

The panel gave nod to "issuance of secured rated listed redeemable non convertible debentures (NCDs) at a coupon rate of 8.25% with an aggregate principal amount of up to 500 crore on a private placement basis in one or more tranches to certain eligible investors."

The company did not disclose where it will utilise the proceeds of the proposed issue.

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