Real estate major DLF Ltd on Monday has sought shareholders’ approval to raise Rs 5,000 crore by way private placement of non-convertible debentures, the company said in a statement to the BSE.

The statement added that, “In order to augment long-term resources for business needs through issue of NCDs, the company may offer to invite subscription for NCDs in one or more tranches.”

Meanwhile, the company has also sought approval through postal ballot to reduce the borrowing capacity of the company to Rs 30,000 crore from earlier Rs 50,000 crore.

It has also approached shareholders for their consent to authorise its Board of Directors, from time to time, to grant loans, give securities and make investment in securities up to Rs 20,000 crore, in order to meet funding obligations of its subsidiaries, joint ventures and associates. This amount of Rs 20,000 crore, at present, is higher than the limits specified in Section 186 of the Act.

Last week, DLF reported 29 per cent fall in consolidated net profit at Rs 127.77 crore during the first quarter of this fiscal, compared with Rs 181.19 crore in the corresponding period a year ago.

Shares of the company ended 0.35 per cent higher at Rs 201.30 at the BSE on Monday.

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