Pia Singh, daughter of DLF Chairman KP Singh, today sold shares worth Rs 232.7 crore to a clutch of other promoter entities, as per block deal data on the National Stock Exchange (NSE).
In an inter-promoter transfer, 10.43 million shares were sold by Pia Singh were bought by nine DLF group firms including DLF Investments, Haryana Electrical Udyog and Kohinoor Real Estates.
Shares of the company changed hands at Rs 223 a piece. Shares of DLF today closed Rs 4.10, or 1.85% lower at Rs 217.85 per share.
Pia Singh held shares 22.82 million (1.34%) in the company as on September 2012. After today's transaction, her stake would come down to 0.61%.
Currently, the DLF company promoter owns 78.58% stake in the company. The stake will have to be brought down to 75% by June 2013 to meet Sebi's mandatory 25% public shareholding requirement.
