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29-Nov2017

DLF to consider QIP, warrants issue on December 1

DLF is mulling to issue equity shares to institutional investors and warrants or debentures to promoters. In this regard, the company has called a board meeting on December 1, 2017. The company is required to launch qualified institutional placement (QIP) and also issue of warrants or debentures because of proposed infusion of about Rs 10,500 crore by promoters into the company.

Infusion of capital by promoters would lead to increase in promoters stake in the company to more than 75%. So, the company will have to launch a QIP to maintain the minimum public shareholding limit of 25%.

DLF is one of India's biggest property developers. The company's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.


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