Comments
Realty major DLF on Friday said it has raised ₹ 3,173 crore by selling shares to institutional investors through its QIP offer.
DLF would utilise this amount mainly to prepay debt, which stood at around ₹ 7,000 crore at the end of December 2018.
On Monday, the company had launched its qualified institutional placement (QIP) issue, offering up to 17.3 crore shares to investors. The issue closed on Thursday.
In a regulatory filing, DLF on Friday informed that the Securities Issuance Committee has approved the allotment of 17.3 crore equity shares to eligible qualified institutional buyers at an issue price of ₹ 183.40 per share, aggregating to about ₹ 3,172.82 crore.
Sources on Tuesday had said that DLF’s QIP issue has been oversubscribed by two times, enabling the company to raise around Rs 3,200 crore.
Major institutional investors who participated in QIP offer include Oppenheimer, UBS, HSBC, Marshall & Wace, Myriad, Key Square, Goldman Sachs, Indus, Eastbridge, Tata Mutual Fund and HDFC Mutual Fund, sources had said.
This is the third major fundraising from DLF. In 2007, DLF raised about Rs 9,200 crore through an initial public offering (IPO). In 2013, the company had raised nearly Rs 1,900 crore through an institutional placement programme.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.