Companies

DLF promoters infuse balance ₹2,250 crore upon exercise of warrants

Our Bureau New Delhi | Updated on June 27, 2019 Published on June 27, 2019

Promoter stake will now go up to 74.9%

Real estate major DLF Ltd has completed the allotment of 13.80 crore equity shares to the promoter group on exercise of the warrants issued by them at issue price of ₹217.25 each (converted to share of ₹2 each).

Accordingly, the company has received ₹2,249.9 crore, the balance 75 per cent of the total warrants issue price of ₹2,999.99 crore. It may be recalled that promoters had in December 2017 pumped in ₹750.1 crore into the company towards 25 per cent subscription against the warrants.

With the completion of the shares allotment towards the 13.80 crore warrants and the company receiving the balance ₹2,249.90 crore, the infusion of capital of ₹11,250 crore by the promoter/ promoter group stands completed, DLF said in a regulatory filing with the stock exchanges.

Upon allotment of equity shares on conversion of warrants, the paid-up equity of the company stands increased to ₹495.06 crore, comprising 247,53,11,706 equity shares having face value of ₹2 each. The total shareholding of the promoter/promoter group entities would stand increased to 74.95 per cent from 73.47 per cent and will remain within the minimum public shareholding limit as prescribed under the Securities Contracts Regulation Act, 1956

Published on June 27, 2019
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