DLF hits 6-month high on successful QIP issue; stock surges 25% in a month

Oppenheimer Global Fund, Society Generale, BNP Paribas, Morgan Stanley France, Copthall Mauritius Investment and Stichting Depositary APG Emerging Markets allotted the shares in the offer

DLF shares hit an over six-month high of Rs 207, up 6.5 per cent, on the BSE after the real estate developer successfully raised Rs 3,173 crore through qualified institutional placement (QIP). The stock was trading at its highest level since September 18, 2018.

“The Securities Issuance Committee of the Company has, at its meeting held today i.e. 29th March, 2019 approved the allotment of 173 million equity shares of Rs 2 each to eligible qualified institutional buyers pursuant to the QIP at the issue price of Rs 183.40 per equity share,” DLF said in a regulatory filing.

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