DLF is required to launch QIP and also issue of warrants or debentures because of proposed infusion of about Rs10,500 crore by promoters into the company. Infusion of capital by promoters will lead to increase in promoters’ stake in DLF to more than 75%. In late August, DLF promoters sold the entire 40% stake in its rental arm DLF Cyber City Developers Ltd (DCCDL) for Rs11,900 crore. DLF expects to raise another Rs3,500 crore from proposed QIP, taking the total likely infusion in the company to Rs14,000 crore. Post GIC deal, DLF stake in DCCDL, which holds bulk of the commercial assets with annual rental income of over Rs2,500 crore, will increase from 60% to 66.66%.

Source: Mint November 29, 2017 14:15 UTC