Share price of real estate major DLF spiked over 5 percennt intraday on Tuesday trading at Rs 185 per share. The company plans to raise an estimated Rs 3,000 crore by June through the sale of equity shares to qualified institutional investors.
Aiming to become a debt-free company, DLF had last year announced plans to issue up to 17.3 crore shares through qualified institutional placement (QIP) to raise funds pre-pay loans.
"We are looking to complete QIP by June this year," DLF group CFO Ashok Tyagi said. "We are currently selling Rs 600 crore worth properties every quarter. These sales proceeds will also be utilised towards reducing debt," he added.
Also, the scrip witnessed spurt in volume by more than 2.09 times.
At 12:05 hrs DLF was quoting at Rs 185.85, up Rs 9.25, or 5.24 percent. It has touched an intraday high of Rs 187.30 and an intraday low of Rs 177.50. First Published on Mar 12, 2019 12:12 pm
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