DLF invites PE funds for Affordable Housing
Monday, November 19, 2007
DLF has attracted participation of private equity real estate funds in its township projects by diluting 49% equity stake at a premium, in seven residential projects to a Merrill Lynch & Co entity for a consideration of Rs 1481 crore.
The mid-income housing projects, located in Chennai, Bangalore, Kochi and Indore would get fully developed in about 7 - 8 years time frame. In a related but separate transaction, the company has also diluted 49% of its equity stake at a premium, in another middle-income housing project in Panchkula, Haryana to Brahma Investments, for a consideration of Rs 194 crore.
DLF began trading as SENSEX stock from today, replacing Dr. Reddy's Labs.
The mid-income housing projects, located in Chennai, Bangalore, Kochi and Indore would get fully developed in about 7 - 8 years time frame. In a related but separate transaction, the company has also diluted 49% of its equity stake at a premium, in another middle-income housing project in Panchkula, Haryana to Brahma Investments, for a consideration of Rs 194 crore.
DLF began trading as SENSEX stock from today, replacing Dr. Reddy's Labs.
posted by Webmaster @ 11:54 AM
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