Photo: MintBengaluru: A stake sale by DLF Ltd’s promoters to an affiliate of Singapore’s sovereign wealth fund GIC Pte Ltd will see capital infusion of nearly Rs13,000 crore into India’s largest property developer, DLF said in an analyst presentation on Sunday. The capital infusion is critical for DLF, which has around Rs26,000 crore of debt. The transaction implies an enterprise value of Rs35,617 crore for DLF Cyber City, translating into an equity value of around Rs30,200 crore. After the completion of the stake sale, DLF will hold 66.66% in DLF Cyber City. “We are excited to enter into, yet another, landmark transaction with GIC,” said Rajiv Singh, vice chairman of DLF.

Source: Mint August 27, 2017 14:03 UTC