Two senior DLF officials quit ahead of IPO
Ahead of its initial public offer, two senior officials of real estate giant DLF have resigned from the company recently.
By PTI |
NEW DELHI: Ahead of its initial public offer, two senior officials of real estate giant DLF have resigned from the company recently.
Mukesh Dham, Executive Director (Coordination), and Ananta Raghuvanshi, Senior Vice President (Marketing), resigned from the company last month.
While confirming that the two officials have quit, a senior DLF official said it was part of normal business process and "people leave for better prospects".
DLF, which aims to raise up to Rs 9,625 crore from the capital market through IPO, has added about 1,600 employees since January last year, the official said, adding the total number of employees has gone up to 2,700.
The resignation of Raghuvanshi, who was looking after the retail segment, would not have any effect as the vertical has a strong team led by DLF Retail Managing Director Pia Singh, he added.
Dham has joined another capital-based real estate firm Emaar MGF in a senior managerial post, industry sources said.
When contacted, Dham confirmed he resigned from DLF last month and has joined Emmar MGF for "better prospects".
DLF has noted the resignation of Dham in its red herring prospectus. Besides Dham, four other key managerial employees have resigned from the company since January this year, according to the prospectus.
These are Alok Aggarwal (Vice President - business development), Sanjay Chawla (VP- mall operations), Sanjay Sethi (VP-finance) and Pradeep Varshney (Senior VP -business development).
Mukesh Dham, Executive Director (Coordination), and Ananta Raghuvanshi, Senior Vice President (Marketing), resigned from the company last month.
While confirming that the two officials have quit, a senior DLF official said it was part of normal business process and "people leave for better prospects".
DLF, which aims to raise up to Rs 9,625 crore from the capital market through IPO, has added about 1,600 employees since January last year, the official said, adding the total number of employees has gone up to 2,700.
The resignation of Raghuvanshi, who was looking after the retail segment, would not have any effect as the vertical has a strong team led by DLF Retail Managing Director Pia Singh, he added.
Dham has joined another capital-based real estate firm Emaar MGF in a senior managerial post, industry sources said.
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When contacted, Dham confirmed he resigned from DLF last month and has joined Emmar MGF for "better prospects".
DLF has noted the resignation of Dham in its red herring prospectus. Besides Dham, four other key managerial employees have resigned from the company since January this year, according to the prospectus.
These are Alok Aggarwal (Vice President - business development), Sanjay Chawla (VP- mall operations), Sanjay Sethi (VP-finance) and Pradeep Varshney (Senior VP -business development).
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