DLF will be raising Rs 700 crore for an entirely privately financed metro rail project, which would benefit the residents of Gurgaon, including townships and business centres established by DLF.
The country’s largest realty developer will have a 26 per cent stake in a partnership it will form with infrastructure financing company IL&FS for the project, while the remaining 74 per cent would be held by IL&FS.
According to a DLF spokesperson, the Special Purpose Vehicle (SPV) would raise Rs 700 crore within the next six months. The route of raising funds would, however, be decided in due course of time.
DLF Vice-Chairman Rajiv Singh said: “Raising funds in the current market situation would be a bit difficult, but the project’s viability will attract lenders. DLF would also be contributing its share of equity.”
