DLF to raise Rs 500 crore via NCDs in its first major fund hunt in 2021

Real estate group DLF plans to raise Rs 500 crore by issuing redeemable non-convertible debentures (NCDs). A finance committee set up by the board of directors approved the plan on Wednesday, the company informed the exchanges.

The Delhi-based group’s latest bid to raise funds will be at a coupon rate of 8.25 percent. The secured, rated, listed, redeemable NCDs will be placed privately and in one or several tranches. Earlier, in February, it had expressed its willingness to raise Rs 375 crore through NCDs. The company, however, did not specify the purpose of the fund raising

This is DLF’s first major fund raising in 2021. It last year raised Rs 2,400 crore from the State Bank of India through its rental arm DLF Cyber City Developers to refinance debt and fund expansion.