News & Views on Indian Real Estate

Wednesday, September 03, 2008

DLF Is Planning To Raise Up to Rs 10, 000 Crore

DLF Ltd is planning to raise Rs 10,000 crore over the next one year. The shareholders will pass an enabling resolution to this effect in the next annual general meeting which will be held on September 30, 2008. According to a DLF spokesperson,"This is a normal procedure to raise money. We need the shareholders approval to raise money. This process authorizes us to raise money up to Rs 10,000 crore." The real estate company may not raise the absolute amount. It may raise funds for a smaller amount. The resolution is valid for one year, until the next AGM takes place.

Pawan said...

They did an IPO last year only. Where is all that money gone?

We all know developers have been grabbing land instead of delivering constructed space. Now they have no money left to construct and they are not going to get any either - at least that easily. Any money they raise will be on punitive terms.

Pay back time Mr. K P Singh

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