DLF jumps after raising Rs 375 crore via NCDs

DLF jumped 13.76% to Rs 109.55 at 14:30 IST on BSE after the realty major announced raising Rs 375 crore from private placement of fully-paid non-convertible debentures.

Meanwhile, the BSE Sensex was up 196.48 points, or 0.76%, to 25,938.04.

DLF made the announcement after market hours yesterday, 24 August 2015.

On BSE, so far 50.66 lakh shares were traded in the counter, compared with an average volume of 11.85 lakh shares in the past one quarter.

The stock hit a high of Rs 113.40 and a low of Rs 97.40 so far during the day. The stock had hit all-time low of Rs 93 yesterday, 24 August 2015. The stock had hit 52-week high of Rs 198 on 22 August 2014.

The stock had outperformed the market over the past one month till 24 August 2015, sliding 6.55% compared with 8.43% fall in the Sensex. The stock, had, however underperformed the market in past one quarter, declining 21.83% as against Sensex's 7.93% decline.

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

Shares of DLF witnessed a steep slide recently. The stock tumbled 28.61% in the preceding six trading sessions to settle at Rs 96.30 yesterday, 24 August 2015, from a recent high of Rs 134.90 on 14 August 2015.

The non-convertible debentures (NCDs) carry a coupon of 12.25%. The NCDs are the second tranche out of an overall limit to raise Rs 1375 crore. The NCDs are redeemable for cash at par in separate series within a period of 4 years 11 months and 18 days 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 the BSE.

On consolidated basis, DLF's net profit fell 4.9% to Rs 121.55 crore on 26.7% growth in total income to Rs 2345.62 crore in Q1 June 2015 over Q1 June 2014.

DLF is into development of residential, commercial and retail properties.

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