DLF rises as its joint venture raises Rs 1,000 crore via debentures

DLF is currently trading at Rs. 405.95, up by 5.60 points or 1.40% from its previous closing of Rs. 400.35 on the BSE.

The scrip opened at Rs. 399.00 and has touched a high and low of Rs. 409.00 and Rs. 396.75 respectively. So far 116840 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 449.80 on 18-Oct-2021 and a 52 week low of Rs. 179.65 on 26-Nov-2020.

Last one week high and low of the scrip stood at Rs. 431.40 and Rs. 394.50 respectively. The current market cap of the company is Rs. 100980.34 crore.

The promoters holding in the company stood at 74.95%, while Institutions and Non-Institutions held 20.00% and 5.05% respectively.

DLF Cyber City Developers (DCCDL), a joint venture between DLF and Singapore wealth fund, has successfully raised Rs 1,000 crore through private placement of listed, secured and redeemable non-convertible debentures (NCDs).

The fund has been raised at 6.7 per cent annual fixed coupon rate maturing in September 2024. The NCDs will be listed on the Wholesale Debt Market of BSE.

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.