Realty major DLF on March 29 said it has raised Rs 3,173 crore by selling shares to institutional investors through its QIP offer. DLF, the country's largest real estate firm in market value, would utilise this amount mainly to prepay debt, which stood at around Rs 7,000 crore at the end of December 2018.
On Monday, the company had launched its qualified institutional placement (QIP) issue, offering up to 17.3 crore shares to investors. The issue closed on March 28.
In a regulatory filing, DLF Friday informed that the Securities Issuance Committee has approved the allotment of 17.3 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 183.40 per share, aggregating to about Rs 3,172.82 crore.
Sources on March 26 had said that DLF's QIP issue has been oversubscribed by two times, enabling the company to raise around Rs 3,200 crore.
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Source: Moneycontrol
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