DLF falls ahead of share sale to institutional investors
The real estate company proposed to raise up to Rs 1,888 crore through a share sale to institutional investors on May 14.
DLF is trading lower by 2% at Rs 233 ahead of the equity share sale to institutional investors tomorrow to raise up to Rs 1,888 crore.
The stock opened at Rs 234 and touched low of Rs 232 so far on NSE. A combined 2.65 million shares changed hands on the counter till 1218 hours on NSE and BSE.
The real estate company proposed to raise up to Rs 1,888 crore through a share sale to institutional investors on May 14.
“The company will sell about 81 million shares at a price band of Rs 222 to Rs 233 each via institutional placement programme (IPP) route,” DLF said in a regulatory filing.
The stock opened at Rs 234 and touched low of Rs 232 so far on NSE. A combined 2.65 million shares changed hands on the counter till 1218 hours on NSE and BSE.
The real estate company proposed to raise up to Rs 1,888 crore through a share sale to institutional investors on May 14.
“The company will sell about 81 million shares at a price band of Rs 222 to Rs 233 each via institutional placement programme (IPP) route,” DLF said in a regulatory filing.
The issue of shares is being done to meet market regulator SEBI's guideline on minimum 25% public shareholding by June 30 for listed private sector companies. Currently, the promoters hold 78.58% stake in the company.