DLF gains on rasing Rs 375 crore via NCDs

The company has raised Rs 375 crore via non-convertible debentures

Shares of DLF were up over 3% at Rs 100, in an otherwise weak market, after the realty major said it has raised Rs 375 crore through issue of non-convertible debentures.

DLF has allotted 12.25% privately placed fully-paid non-convertible debentures of a principal amount of Rs 375 crore (comprising the second tranche out of an overall shelf limit of up to Rs 1,375 crore), redeemable for cash at par in separate series within a period of 4 years 11 months adn 18 days from the date of allotment, the company said in a release.

These debentures are proposed to be secured by certain immovable assets of a wholly owned subsidiary of DLF Limited, and are proposed to be listed on the stock exchanges, the release added.

The stock opened at Rs 99 and touched a high of Rs 104. At 12PM, over 17.4 million shares were traded on both the stock exchanges.