IndiaCatalog.com
India News
Search Web Directory
News Home
DLF plans to launch QIP of shares by April; raise Rs 45-50 billion
Posted on 29th January 2018
DLF, the country’s largest developer by market value, is looking to launch its qualified institutional placement (QIP) of shares by April this year, a source said.

DLF has already received approval from shareholders to sell 173-million equity shares, which will be determined by the formula laid down by the market regulator Securities and Exchange Board of India.

According to a source, the company may raise Rs 45 -50 billion from the QIP. When contacted, Saurabh Chawla, DLF group chief financial officer, said, “The board has not taken any decision yet. We have to do the QIP in the next 12 months and we will do it.” He, however, did not comment on the quantum of the QIP.

The company has already said that its development arm, which has a debt of Rs 130 billion, will be a zero-net debt company by March 31, 2019.

According to a recent CRISIL report, the firm has already repaid a debt of Rs 66 billion from the Rs 90 billion that the promoters had infused in December 2017.

According to the source, the company has already clocked sales to the tune of Rs 5 billion in two months of resuming sales in November last year. DLF had a gross debt of Rs 290 billion as of September 30, 2017. Fund infusion by the promoters resulted in debt reduction by around Rs 66 billion so far in FY18. “With additional proceeds from the offering of equity shares and the balance payment of 75 per cent against warrants issued to promoters, the debt is expected to reduce further by FY19,” CRISIL said. “DLF is focusing on selling its ready-to-move-in apartments to fund its future plans and reducing debt,” said DLF Chief Executive Officer Rajeev Talwar.

DLF has completed inventory worth Rs 150 billion in Delhi, Gurugram, Lucknow, Kochi and Punjab.

“Selling of completed apartments will fetch a big source of revenue for us and we believe it will get the highest value realisation,” said Talwar.

Talwar said the company worked on the strategy for the past four years. It sold 30-35 per cent of apartments in projects such as Camellias and The Crest and completed all the projects.

When asked about the rationale behind the strategy given that many developers believe the using leverage and customer funds would deliver better returns, Talwar said, "Many people in the industry believe that customer money comes free and they can spend it anywhere, which created all the problems," he said.

Related Companies: DLF Ltd   

Other Latest News
UP cops arrest owners of bogus brokerage involved in Rs 4,122 cr DHFL scam
Posted on 7th December 2019

The economic offences wing (EOW) of Uttar Pradesh Police has arrested seven accused in the UP Power Corporation Limited (UPPCL) employees' provident fund (PF) scam, in which Rs 4,122 crore was illegally parked with private lender Dewan Housing Finance Corporation Limited (DHFL).

Those arrested included a senior DHFL official, a chartered accountant and the owners of bogus brokerage firms. With the new arrests yesterday, the number of those rounded up in the case has risen to 12.


NTPC inks Rs 5,000 crore term-loan pact with SBI for capex spending
Posted on 7th December 2019
Power generation company NTPC on Saturday said it has signed a term loan agreement for Rs 5,000 crore was signed with State Bank of India (SBI).

The loan facility has been extended at an interest rate linked to 3-month MCLR (marginal cost of funds-based lending rate) of the bank and has a door-to-door tenure of 15 years, NTPC said in a statement.


Priyanka Gandhi meets Unnao rape victim's family, attacks UP govt
Posted on 7th December 2019

Congress general secretary Priyanka Gandhi Vadra on Saturday blamed the BJP government in Uttar Pradesh for the death of the Unnao rape victim, following which she met the deceased's family members at their house and offered her condolences.

Hours after the death of the 23-year-old gang rape victim at a Delhi hospital, the Congress leader alleged that the "hollow law and order mechanism in UP" denied justice to survivors of sexual violations.


Goa minister urges Modi to mandate public hanging of rape-murder convicts
Posted on 7th December 2019

Goa minister Michael Lobo on Saturday demanded that public hanging of convicts in the rape-murder cases be made compulsory in the country for sending out a strong message in the society in order to curb crime against women.

He also urged Prime Minister Narendra Modi and Union Home Minister Amit Shah to bring amendments to the law to facilitate public hanging of such criminals.


Hyderabad cops file case against 4 rape accused after shooting them dead
Posted on 7th December 2019

A case was registered against four accused, arrested for the alleged rape and murder of a woman veterinarian near here last month and killed in an encounter, for 'attacking' the police personnel.

Case under IPC sections 307 (attempt to murder), 176 (omission to give notice or information to public servant by person legally bound to give it) and relevant sections of the Indian Arms Act were registered against the accused.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for DLF plans to launch QIP of shares by April; raise Rs 45-50 billion
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for DLF plans to launch QIP of shares by April; raise Rs 45-50 billion

Most Read News

Piramal Capital borrows Rs 1100 crore for 4 months from Barclays: Report

HDFC Bank sees signs of rural revival as wider economy remains sluggish

Airtel, Voda Idea and Jio to hike mobile, data tariffs by up to 40%

Facebook corrects user's post after Singapore invokes fake news law

JSW Steel eyes to supply 1.5 lakh tonne to metro rail projects in FY20

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement