US fund Oppenheimer buys 28 lakh shares in DLF, ups stake

NEW DELHI: US-based foreign fund Oppenheimer has purchased over 28 lakh shares, worth about 50 crore at current prices, in the realty major DLF from the open market to increase its stake to 7.33 per cent.

In a filing to the BSE, OppenheimerFunds, registered as an FII in India, said it bought 28,01,000 shares or 0.16 per cent stake, in DLF from the open market on June 25.

Post this transaction, OppenhiemerFunds' stake in DLF has increased to 7.33 per cent from 7.16 per cent.

According to the shareholding pattern of DLF filed on May 20, Oppenheimer had 3.84 per cent stake in the company.

Promoters currently own 75 per cent of DLF. The share price of the company closed at Rs 176.20 on the BSE, up by 4.48 per cent.

According to sources, Oppenheimer was one of the largest buyer of DLF shares in the Institutional Placement Programme (IPP) launched by the country's largest realty firm on May 14.