DLF hires bankers for Rs 2,000-crore placement

NEW DELHI: DLF has appointed four global investment bankers to sell fresh shares to institutional investors in domestic and overseas markets to raise around Rs 2,000 crore to reduce debt.

The issue will help DLF achieve a minimum public shareholding of 25%, as mandated by Sebi. The board has mandated Standard Chartered Bank, JP Morgan Chase, Deutsche Bank and Bank of America Merrill Lynch for the placement.

A prospectus will be filed next week and the fund raising plan will be completed in the following week.