Shares of realty major DLF surged nearly 9 per cent today after its promoters bought 23 lakh shares of the firm through open market transactions for nearly Rs 25 crore, raising their stake to 74.99 per cent.
The stock jumped 8.83 per cent to Rs 116.45 on the BSE. On the NSE, it soared 8.72 per cent to Rs 116.50.
The shares were purchased on November 23 and 24 from the open market, the country’s largest real estate company has said in a regulatory filing.
Post the transactions, the stake of promoters K P Singh and family in the firm has increased to 74.99 per cent from the earlier 74.86 per cent.
As per the minimum public shareholding norms of SEBI, promoters cannot hold more than 75 per cent shares in a company.