DLF Promoters Look to Sell 40% in Rental Arm for Up to .₹ 14k cr
New Delhi: India’s largest realty firm DLF has initiated the process to sell promoters’ 40% stake in its rental arm, a deal estimated at .₹ 12,000-14,000 crore.
DLF announced in October that its promoters will sell their stake in the DLF Cyber City Developers (DCCDL), which holds the bulk of office and retail complexes. The realty firm would continue to own remaining 60% in DCCDL.
According to sources, DLF's bankers have circulated the information memorandum to 18-20 global institutional investors that are keen to purchase this stake.
Blackstone, Singapore’s sovereign wealth fund GIC, Canada Pension Plan Investment Board, Brookefield, Abu Dhabi Investment Authority and Qatar Investment Authority are among the prospective buyers, they added. — PTI