The block deal was worth Rs 1,311 crore.
DLF shares fell 8.4 percent to close at Rs 184.60 on April 8 after a media report highlighted a block deal trade in morning.
About 6.8 crore shares (representing 3.8 percent of total paid-up equity) of the company changed hands on NSE in a single block deal at Rs 192.65 per share, reports CNBC-TV18.
The deal was worth Rs 1,311 crore.
The parties to this deal were not known at the time of publishing this copy, but the company has been taking every step to make itself debt free.
With that aim to become a debt-free company, DLF had last year announced plans to issue shares through QIP to raise funds and pre-pay loans.
DLF had launched its Rs 3,200-crore QIP, on March 25 (2019), at a floor price of Rs 193.01 per equity share.
This was 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.
DLF's group Chief Financial Officer Ashok Tyagi recently said the QIP proceeds and further infusion of Rs 2,500 crore from promoters against the issue of warrants would help the company significantly reduce the debt that stood at around Rs 7,200 crore as on December 31, 2018.
DLF promoters K P Singh and family have already infused Rs 9,000 crore in the company and would pump in Rs 2,250 crore more.
The company made a preferential allotment of compulsorily convertible debentures (CCDs) and warrants to the promoters against the infusion of funds.
As infusion of the fund by promoters will lead to an increase in their shareholdings beyond permissible limit of 75 percent, the company planned QIP to maintain minimum public shareholding of 25 percent in a listed entity.
(With inputs from agency)
