Kp Singh News

DLF is looking to raise Rs4,000-4,500 crore via QIP, which will be used to repay loan and become debt-free by March 2019

The deal includes sale of 33.34% stake in DLF Cyber City Developers to Singapore's GIC for Rs8,900 crore and a buyback of the remaining shares worth Rs3,000 crore by DCCDL

On NSE, DLF shares surged 6% to close at Rs185.95. The company's market valuation also rose by ₹1,909.8 crore to ₹33,182.80 crore

DLF to hold board meet on 25 August to decide on promoters' proposal to sell 40% stake in its rental arm to investment firm GIC in a deal estimated at Rs13,000 crore

The DLF Cyber City stake sale to Singapore sovereign fund GIC will raise Rs12-13,000 crore and help reduce DLF's debt

Investors in DLF have been living on a steady diet of hope so far and it's time for those hopes to turn into something more substantial

Notices also issued to Sebi, RBI, finance ministry on a plea seeking an investigation against those named

The stake sale will help DLF trim debt; multiple investors are likely to buy stakes in DLF CyberCity

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The list of Indians include Amitabh Bachchan, Aishwarya Rai Bachchan, K.P. Singh and Gautam Adani's elder brother Vinod Adani, among others