DLF gains after raising Rs 1000 crore through debentures

DLF rose 1.19% to Rs 118.60 at 10:05 IST on BSE after the company said it raised Rs 1000 crore by issuing non-convertible debentures.

The announcement was made after market hours yesterday, 12 August 2015.

Meanwhile, the BSE Sensex was up 182.26 points, or 0.66%, to 27,694.52.

On BSE, so far 1.70 lakh shares were traded in the counter, compared with an average volume of 10.31 lakh shares in the past one quarter.

The stock hit a high of Rs 122.05 and a low of Rs 118 so far during the day. The stock hit a record low of Rs 94.35 on 29 July 2015. The stock hit a 52-week high of Rs 203 on 20 August 2014.

The stock had outperformed the market over the past one month till 12 August 2015, rising 2.27% compared with 0.54% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.58% as against Sensex's 2.36% rise.

The large-cap company has an equity capital of Rs 356.54 crore. Face value per share is Rs 2.

DLF said it allotted 12.25% privately placed fully-paid non-convertible debentures of a principal amount of Rs 1000 crore, redeemable for cash at par in separate series within a period of 5 years from the date of allotment.

These debentures are proposed to be secured by certain immovable assets of a wholly owned subsidiary of DLF, and are proposed to be listed on BSE, in accordance with the terms of applicable law, corporate approvals, transaction documents and other relevant considerations, the company said.

DLF will announce its Q1 results today, 13 August 2015. On consolidated basis, DLF's net profit fell 21.9% to Rs 171.62 crore on 15% drop in total income to Rs 2144.23 crore in Q4 March 2015 over Q4 March 2014.

DLF's primary business is development of residential, commercial and retail properties. DLF is now present across 15 states-24 cities in India.

Powered by Capital Market - Live News