Pia Singh sells DLF shares worth Rs 70 crore to promoter entities

MUMBAI: DLF Chairman K P Singh's daughter Pia Singh today sold 34.49 lakh shares of the company for nearly Rs 70 crore to group promoters in the open market.

In an inter-promoter transfer, the shares were acquired by Kavita Singh, wife of Pia's brother and company Vice Chairman Rajiv Singh, and two other promoter entities Yashika Properties & Development Company and Kohinoor Real Estates Company.

Pia Singh, a whole-time director on the company's board, who held 1.55 per cent stake in DLF at the end of June quarter, offloaded 34,49,600 shares of the realty firm, according to block data available with the stock exchanges.

The shares were sold on an average price of Rs 202.5, valuing the deal at Rs 69.85 crore, it added.

Pia Singh is actively engaged in developing luxury and super-luxury retail destinations across the country.

Shares of DLF plunged by 4.58 per cent to close at Rs 191.50 apiece on the BSE.