DLF rallies 2% on reports of fund raising plans

NEW DELHI: DLF Ltd rose as much as 2.1 per cent in trade on Wednesday, after media reports suggested that the realty major is likely to raise about Rs 2,500-3,000 crore by next month via private equity.

The report further added that DLF is also in talks with Singapore government's investment arm GIC to sell stake in a new housing project in New Delhi.

The stock ended the day at Rs 116.70, up 1.88%, on the BSE.

Quoting market sources, PTI in a report said that the company is in advanced stage of talks with sovereign wealth fund GIC to sell up to 49 per cent stake in the new residential project in the National Capital.

The deal is expected to close in the next one month, they added.

DLF is planning to launch a new residential project spread over 20-25 acres near Moti Nagar, adjacent to its existing housing project 'Capital Green'.