DLF shines on planning to raise up to Rs 500 crore via NCD
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DLF is currently trading at Rs. 296.65, up by 5.10 points or 1.75% from its previous closing of Rs. 291.55 on the BSE.
The scrip opened at Rs. 295.00 and has touched a high and low of Rs. 297.90 and Rs. 293.10 respectively. So far 516104 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 332.60 on 04-Mar-2021 and a 52 week low of Rs. 114.50 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 321.95 and Rs. 289.60 respectively. The current market cap of the company is Rs. 72167.71 crore.
The promoters holding in the company stood at 74.95%, while Institutions and Non-Institutions held 20.08% and 4.97% respectively.
DLF is planning to raise up to Rs 500 crore through issue of non-convertible debentures (NCD) to investors. Finance committee, constituted by the board of directors approved the company's proposal. The panel gave nod to issuance of secured rated listed redeemable non convertible debentures (NCDs) at a coupon rate of 8.25 per cent with an aggregate principal amount of up to Rs 500 crore on a private placement basis in one or more tranches to certain eligible investors. The company did not disclose where it will utilise the proceeds of the proposed issue.
DLF is one of India's biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.
