Smart Moves

K.P. Singh and his family are planning to invest `10,000 crore in DLF through purchase of shares in a preferential issue to bring down the company’s debt, according to a report published in a business daily. According to the report, the Singh family plans to sell 40 per cent stake in DLF Cyber City Developers Ltd. ( DCCDL) for `12,00013,000 crore and will use the money to ‘wipe out’ the parent company’s debt. Separately, DLF also plans to raise about out `3,000 crore from institutional onal investors in order to ensure that hat the promoters’ stake doesn’t breach the 75 per cent thresholdd after the purchase of the preferentialrential shares. The companyy has a net debt of around `22,000 crore and twothirds twoit of it is attributed to the residential al business.