DLF FPO likely in 2013

To comply with SEBI guidelines of promoter's having a maximum of 75% sharholding in a Company, DLF is likely to bring a follow-on public offer (FPO) before June to dilute promoters' stake to 75 per cent.  

As on September 30, promoters and their group companies held 78.58 per cent stake in DLF. The proceeds of the issue would be utilised to cut debt, which currently stands at Rs 21,200 crore. 

DLF had also said that its debt will come down to Rs 15,000 crore level after sale of two big-ticket non-core assets (hospitality chain Aman Resorts and wind energy business), surplus cash flow and capital market transaction. Meanwhile the stock has appreciated handsome 15% in last one month on the back of these positive developments.

1 comment:

  1. DLF has already sold couple of assets and has brought down it's debt to around 19000 crores. The stock has responded positively and is up more than 20% in past 4 months...